As of this Wednesday, May 15th, stock prices jump up with the announcement of the plans to delay the auto tariffs. Over the last year, there has been discussion and action done about taxes and tariffs on imported goods which have scared investors into making big decisions.
Due to this jump in stock price, there have been gains in various stocks.
Stock Market News – Big Gains for Once Fear Filled Companies
According to CNBC, “The Dow Jones Industrial Average closed up 115.97 points at 25,648.02 after falling as much as 190 points earlier in the session. The S&P 500 gained 0.6% to end the day at 2,850.96 while the Nasdaq Composite rose 1.1% to 7,822.15.”
These gains are phenomenal and are not the only ones! While the Dow Jones Industrial Average saw a huge gain and great close, some stocks have increased as well including; Ford Motor, General Motors, Boeing, and Alphabet.
United States Retail Sales Dropped
While some companies have gotten positive news and gained points, U.S retail sales have dropped in the last month. Just in April according to, the Commerce Department retail sales in the United States have dropped about 0.2%.
This sale rate drop is said to be possibly related to the fear of being dragged down and impacted by the U.S-China Trade War.
The United States is not the only one with dropping numbers. China saw the slowest growth in industrial production in over a decade.
The market’s predictions- are unpredictable
Due to these tariffs being added, the short-term life of the stock market is unpredictable! The unpredictability of the tariff war has driven investors and stock market watchers away from making any large decisions.
And no one blames them! Craig Birk, a chief investment officer for Personal Capital states as published by CNBC,
“You have to accept that it’s going to be a coin-toss if you’re worried about the next day or week. It’s a negotiation,”.