Stocks Ended Higher on Growing Trade Optimism

U.S. stocks ended higher on Wednesday amid reports that the Trump administration is planning to delay auto tariffs by up to six months. The Dow Jones Industrial Average rose 115.97 points, or 0.45%, to 25,648.02. The S&P 500 gained 16.55 points, or 0.58%, to 2,850.96. The Nasdaq Composite rallied 87.65 points, or 1.13%, to 7,822.15.

Oil futures finished higher Wednesday, as investors focused on rising Middle East tensions, despite an unexpected climb in U.S. crude supplies and signs of sluggish oil demand. West Texas Intermediate crude for June delivery tacked on 24 cents, or 0.4%, to settle at $62.02 a barrel. July Brent added 53 cents, or 0.7%, to settle at $71.77 a barrel.

On Wednesday, several news outlets reported that the Trump administration is planning to pause on implementing auto tariffs ahead of a May 18 deadline. The Commerce Department had compiled a report earlier this year that concluded Trump could justify imposing tariffs of as high as 25% on cars by citing a national security threat.

About the Author

has written 13533 stories on this site.

Copyright © 2012 Nine Stocks