Stocks wobbled as Commerce Sec. Wilbur Ross nails down the Huawei order, effective tomorrow


  • Commerce Sec. Wilbur Ross speaking has said that the Huawei order will be effective starting tomorrow.
  • The DJIA wobbled, but bulls have stepped in again.

Commerce Sec. Wilbur Ross speaking has said that the Huawei order will be effective starting tomorrow, but investors are shrugging off trade war threats and other various geopolitical risks while preferring to buy into positive earnings from Cisco Systems (CSCO) and Walmart (WMT) and upbeat U.S. economic data:

The DJIA is up 1.09% or 278 points at the time of writing.

Commerce Sec. Wilbur Ross:

  • Huawei order will be effective starting tomorrow.
  • Action is not part of trade talks with China.
  • Huawei wasn't discussed during US-China trade talks.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Under pressure below 1.1245 while consolidating Dollar's resurgence

EUR/USD dropped from 1.1260 to just above 1.1200 overnight. The markets continued to price 31bp of easing at the 31st July meeting though Fed funds futures for 2020 rose about 3bp in implied yield.

EUR/USD News

GBP/USD stabilizes around 1.2400 after the slump to 27-month low

Having plummeted to a 27-month low, GBP/USD recovers to 1.2410 during early Wednesday. British inflation numbers, political plays should be followed by fresh impulse.

GBP/USD News

USD/JPY rejected at 200-hour MA amid losses in Asian equities

USD/JPY is currently trading near 108.15, having faced rejection at the 200-hour moving average of 108.33 earlier today. The JPY is bid, possibly due to losses in equities. Also, Fitch Ratings' affirmation of Japan's rating at 'A' buoys the Yen.

USD/JPY News

Gold: Bulls are in the safe-zone, but are barely holding on

The 1400 psychological level is holding up which is just as well for the bulls, as a couple of dollars, a break of the 23.6% Fibo of the latest swing lows and highs could open up an onslaught to the downside.

Gold News

UK CPI Preview: Brexit above all else

The monthly change in the consumer price index is expected to be flat in June down from 0.3% in May. The annual rate is predicted to be unchanged at 2 %. The core CPI rate is forecast to be flat in June, after gaining 0.2% in April.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •