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Dow erases 204-point drop on strong consumer sentiment, report of US lifting steel tariffs

Friday, 17 May 2019 23:20 WIB Saham AS

Stocks recovered earlier losses on Friday after the release of stronger sentiment data and a report of the U.S. removing some tariffs overshadowed U.S.-China trade worries. The Dow Jones Industrial Average traded 69 points higher, erasing a 204-point drop, while the S&P 500 was up 0.1%. The Nasdaq Composite traded 0.2% higher. Stocks also got a boost after Bloomberg News reported that the U.S. was poised to lift tariffs on steel and aluminum imports. The report, which cited sources, said the outstanding issue was the timing of the removal. Equities started off the session with a sharp drop as China and the U.S. continue their tussle on the trade front. Source: CNBC

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