Stocks jump on trade hopes – Here’s what you need to know…

Stock Market Update Tuesday, August 13th, 2019

Today was all about tariffs.

The major indices were up big after news that the U.S. will delay tariffs on some Chinese goods until December (originally planned for September 1st).

The tariff delay will apply to certain products like clothing and cellphones, while some items considered “health, safety, and national security” related will be removed from the tariff list.

Stocks were lower at the open. But stocks immediately shot higher in reaction to the trade announcement. After the big rally stocks traded sideways for most of the day.

Here’s where the major indices ended the day:

  • The S&P finished with a 1.5% gain. Up 43 points, the S&P ended at 2,926.
  • The DOW ended higher by 1.5%. Down 382 points, the DOW closed at 26,280.
  • The NASDAQ was up 2.0%. With a 153 point loss, the NASDAQ finished at 8,016.

Crude Oil (CL) finished higher for the 4th day straight. With a 3.8% gain, CL ended at $57.03 a barrel.

Apple (AAPL) was a big winner today because of the tariff delay. The stock finished with a 4.2% gain.

And the idea of delaying a price increase (because of tariffs) for apparel and electronics helped retail and electronics companies.

Best Buy (BBY) was up 6.4%. And Nike (NKE) jumped 2.2%  while Nordstrom (JWN) rallied 2.4%.

Here is the economic calendar for the week:

Real Time Economic Calendar provided by Investing.com.

This Stock Market Update was provided by Rockwell Trading Services LLC.

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