Wall Street higher as tech, customer discretionary recovers
New York (Reuters) : Wall Street chief indexes were higher on Tuesday, with the Dow Jones Industrial Average increasing more than 100 points, helped by a recovery in the battered technology and consumer discretionary stocks.
The S&P 500 on Monday broke lower that important level for the first time since Britain’s vote to leave the European Union in June 2016.
The S&P 500 rises to 0.37 percent to 2,591.43 and the Nasdaq Composite gained 0.57 percent to 6,909.08.
Amazon.com rises nearly 2 percent, after closing down more than 5 percent on Monday after President Donald Trump’s most recent attack on the online retailer.
Tesla shares increased 2.6 percent after the electric automaker said it need not lift more capital this year at the same time as announcing it built 2,020 of its cheaper Model 3 sedans in the last seven days of March.
chief economist at Raymond James in St. Petersburg, Florida said, “At some point you have to return to fundamentals and we’re still looking at a pretty good earnings growth,”
Investors have also been cautious about a trade war after China determined to impose extra tariffs on 128 U.S. products over the weekend, in retaliation to Trump’s decision to impose tariffs on steel and aluminum.
The Trump administration is expected sometime this week to publish a list of Chinese goods that could be subjected to new U.S. tariffs.