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Stocks jump higher as Trump delays tariffs on key Chinese imports


Added 08-13-19 10:04:02am EST - “Chipmakers, which depend on China for a large portion of their revenue, were under pressure.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Stocks jump higher as Trump delays tariffs on key Chinese imports”. Below is an excerpt from the article.

Stocks turned positive on a report that China's commerce secretary agrees to conduct a phone call in two weeks with U.S. trade representatives, according to Reuters.

Stocks fell in the last session to start the week as a wave of selling that analysts attributed to mounting doubts about a trade deal pulled lower shares of everything from banks to technology companies.

Shares of Caterpillar and Boeing also turned positive in a reversal from the premarket on the trade news.

The U.S. consumer price index increased 0.3 percent in July. The cost of energy products led a range of goods that contributed.

Market benchmarks in London and Frankfurt fell, while Shanghai and Tokyo closed down. Hong Kong's main index lost 2.1 percent as pro-democracy protesters crowded into the territory's airport for a second day.

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