Wall St. wraps slightly higher as December 15th tariff deadline looms

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Wall St. wraps slightly higher as December 15th tariff deadline looms

On Thursday, the 5th of December 2019, all three key indexes of Wall St. remained almost unchanged, while investors appeared to be waiting for updates of a Sino-US interim trade deal as December 15th China tariff deadline had been closing in.

In point of fact, as Wall St. investors had been biding their time waiting for development on an interim trade accord between Washington and Beijing, S&P 500 and Dow added slight gains, while Nasdaq ended up the day marginally lower as its losses were kept in check by an unprecedented rise in tech stocks.

Nonetheless, Thursday’s (December 15th) Wall St. had witnessed a cautious course of action from the investors, while latest dismal data on US economy pointing towards a steep contraction ahead appeared to have little impact, as investors were still expecting a Sino-US trade accord signed before December 15th China tariff deadline after which the USTR would incline an additional 30 per cent tariff on $160 billion worth of Chinese goods.

Meanwhile, citing a cautious approach amid a tortuous market atmosphere that had swung wildly over the recent weeks following controversial comments from leaders of both Beijing and Washington, a chief executive office at Horizon Investment Services in Hammond, Indiana, Chuck Carlson said on Thursday’s (December 5th) Wall St.

closure, “We’re on hold until we see what happens on the trade front. People are trying to get a read on what’s going to happen with the trade talks and the next relevant deadline is Dec 15. ” Citing statistics, on Thursday’s (December 5th) Wall St.

wrap-up, tariff-sensitive Dow added 0.06 per cent to 27,667.67, S&P 500 gained 0.06 per cent to 3,114.78, while the tech-heavy Nasdaq rounded off the day a penny lower to 8,566.32.