How major United States stock indexes fared Friday

Marco Green
July 9, 2018

World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.

The gains came despite an escalation in trade tensions as the USA imposed tariffs on Chinese goods and China responded in kind.

Disputes between the United States and its trading partners have roiled financial markets ranging from stocks to currencies to commodities for months.

The S&P 500 index rose 23 points, or 0.8 percent, to 2,759. The Nasdaq Composite Index jumped 101.96 points, or 1.34 percent, to 7,688.39.

The S&P 500 is up 18.24 points, or 0.7 percent.

The Russell 2000 is up 36.41 points, or 2.2 percent.

The market had already sold off in recent weeks ahead of Friday's expected ratcheting up of trade tensions between the USA and China, which launched dueling tariffs on billions of goods.

Stocks edged higher in Europe, with the pan-European FTSEurofirst 300 index closing 0.2 percent higher. The Trump administration has launched a national security investigation into automobile imports that could lead to additional tariffs. Analysts have said that they expect the dollar to outperform against other currencies in a trade war.

Large technology companies were strong, with Facebook jumping 2.9 per cent, Google-parent Alphabet 2.0 per cent and Apple 0.9 per cent.

The S&P 500 is up 63 points, or 2.4 percent.

New minutes from the Federal Reserve also showed rising concerns about trade conflicts.

Other reports by Click Lancashire

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