The Stock Exchanges in New York Remained Close to Home on Monday
The stock exchanges in New York remained close to home on Monday, the first trading day of December. The trade is supported by better than expected figures about the Chinese industry.
Investors on Wall Street also continue to focus on the trade feud between China and the United States.
The Dow-Jones index scored 0.1 percent higher on 28.074 points shortly after the start. The broad S&P 500 was a fraction lower at 3140 points, and technology level meter Nasdaq fell 0.1 percent to 8653 points.
On the trade front, President Donald Trump announced that with immediate effect, import duties would again be imposed on steel and aluminium from Brazil and Argentina. Trump accuses those countries of weakening their currencies, which is bad for American farmers. Trump also lashed out again at the Federal Reserve, which he believes should lower interest rates further.
Steel companies in New York are green because of the new levies against the South American countries. This is, for example, AK Steel, U.S. Steel and Steel Dynamics, with pluses up to 2.2 percent.
Retail companies on Wall Street such as Walmart, Target and Amazon are also in the spotlight. American consumers have bought more online this year than ever on the crucial Black Friday shopping day. A record is also expected for Cyber Monday, the Monday after Thanksgiving Day when consumers look for online bargains.