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US stocks close higher; US-China trade talks in focus

IANS  |  New York 

US stocks closed higher, rebounding from a steep sell-off in the previous session as investors continued to monitor the latest development of global trade.

The Dow Jones Industrial Average was up 207.06 points, or 0.82 percent, to 25,532.05 on Tuesday. The S&P 500 was up 22.54 points, or 0.80 percent, to 2,834.41. The increased 87.47 points, or 1.14 percent, to 7,734.49, reported.

tumbled on Monday after announced that it would raise the rate of additional tariffs imposed on some of the imported US products starting June 1.

The decision came after the US move to increase additional tariffs on 200 billion U.S. dollars worth of Chinese goods from 10 per cent to 25 per cent as of May 10.

On the economic front, US import prices advanced 0.2 per cent in April, the said Tuesday.

The April advance was driven by higher fuel prices, which more than offset decreasing prices for non-fuel imports, said the department.

Prices for US exports rose 0.2 per cent in April after a 0.6-per cent rise in March, the department said.

--IANS

vin/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 15 2019. 06:04 IST
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