NEW YORK - U.S. stocks closed higher on Wednesday as reports that U.S. President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns even as economic data disappointed investors.
Retail sales posted a surprise drop in April as consumers pulled back on their spending, according to the U.S. Commerce Department. A separate report from the Labor Department showed U.S. industrial production also unexpectedly dipped in April. The Dow Jones Industrial Average rose 115.97 points, or 0.45%, to 25,648.02, the S&P 500 gained 16.55 points, or 0.58%, to 2,850.96 and the Nasdaq Composite added 87.65 points, or 1.13%, to 7,822.15.
Analysts now see first-quarter earnings growth of 1.2%, a significant turnaround from the 2% loss seen on April 1. Ride-hailing rivals Uber Technologies Inc and Lyft Inc saw their second straight day of gains following their underwhelming post-debut performances. Their shares advanced 3.3% and 7.0%, respectively.
Just a signal Trump is cabing. Trump is about short term blow your wad early and China is playing the long game!
As they say, when you’ve hit rock bottom...
Until he changes his scrambled egg brain again for the psychic pleasure he derives from watching the markets roil at his utterances, He is the cat toying with the mouse. We are all his mice.
Donald Trump is a clown. 🤡
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