Wall Street shows strength despite tariff dispute
Wall Street remains unimpressed by the current tariff disputes between China and the USA. While investors continue to invest in technology stocks, the Nasdaq Composite showed a positive development on Tuesday and is thus back in positive territory since the beginning of the year. The latest tariff announcements by US President Donald Trump have not caused any additional unrest. Nevertheless, the question remains as to whether a final trade agreement can be reached between the two countries. Market strategist Michael Brown from Pepperstone emphasizes that a phone call between Trump and Xi Jinping may be necessary to move the negotiations forward.
The Dow Jones index closed up 0.5 percent at 42,520 points. The S&P 500 and the Nasdaq Composite also rose. Price gainers predominated on the Nyse, indicating a positive mood. Despite this encouraging development, however, there are negative forecasts from the OECD, which has lowered global economic growth due to trade barriers and uncertainties. This is also reflected in the current US economic data, which is sending mixed signals. While incoming orders in industry fell, the number of job vacancies rose.
Another point is the development on the bond market, where yields remained stable. The dollar recovered from a six-week low, putting pressure on the gold price, while oil prices have risen, despite the uncertain economic outlook.
Technology stocks show strong performance
Shares in the tech sector are particularly in demand. Nvidia gained 2.8 percent, while Super Micro Computer rose 4.8 percent. Micron Technology improved by 4.2 percent after the company presented a new chip for AI applications. Walt Disney was also up 0.6 percent, despite global layoffs to improve efficiency. Dollar General impressed with a gain of 15.9 percent after a positive forecast, while MoonLake Immunotherapeutics rose 18 percent after takeover talks with Merck & Co. were reported.
VW focuses on electromobility in China
Volkswagen $VOW3 (-0,74%) recently presented three new ID models for the Chinese market that drive innovative concepts in electromobility. These vehicles combine a fuel-powered generator with a battery, which enables an impressive range of over 1,000 kilometers. In battery mode, the new models achieve a range of 300 kilometers, while the generator charges the battery while driving and enables an additional 700 kilometers. With these new models, Volkswagen aims to strengthen its position in the growing Chinese electric market and tackle the challenges of the energy transition. The company is focusing on sustainable mobility and innovative approaches to meet the needs of Chinese consumers.
Sources: