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Stocks Inch Higher After China Tariff News -- U.S. Commenatary


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(RTTNews.com) - Stocks opened slightly higher Tuesday, after strong gains in the previous session as worries over trade tensions between the U.S. and China continued to fade.

The S&P 500 rose 0.2% to trade at 2,737.12, while the Dow industrials advanced 30.99 points, or 0.1%, to 25,049.17. The Nasdaq Composite rose 0.3%.

In the corporate sector, Kohl's Corp. announced the company now expects its adjusted fiscal 2018 earnings per share to be $5.05 to $5.50, compared to its prior guidance of $4.95 to $5.45. Shares are down 4.3%

Facebook Chief Mark Zuckerberg will be testifying before the European Parliament at 12-noon U.S. Eastern time. Shares are up fractionally.

JCPenney shares fell 4% after the abrupt resignation of the company's CEO Marvin Ellison left for Lowe's.

Ellison will take over at Lowe's as president and CEO, effective July 2. He succeeds Robert A. Niblock, who previously announced his intention to retire. Lowe's shares rose 1%.

Car makers rallied after China said it would cut tariffs on U.S. automobiles by 15%.

Micron shares jumped 7% after a deal with Intel. The chipmaker raised quarterly guidance Monday.

Macy's Inc. shares fell 3% even after the department store retailer was upgraded to positive from neutral at Susquehanna Financial Group.

WTI light sweet oil was up 18 cents to $72.52 an ounce, highest since 2014.


Read the original article on RTTNews (http://www.rttnews.com/2897583/stocks-inch-higher-after-china-tariff-news-u-s-commenatary.aspx)


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This article appears in: US Markets , Stocks
Referenced Symbols: FB ,


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