T&G Market Recap: Stocks Rise as Tariffs and Jobs Data Shake Up Market šš
Big Tech leads the charge, but tariff tensions with China and the labor market's cooling continue to stir uncertainty. š„š¼
Market Recovery: Tech Stocks Shine š
US stocks closed higher on Tuesday after investors assessed the latest trade war developments and fresh jobs data.
Nasdaq Composite jumped 1.4%
S&P 500 rose 0.7%
Dow Jones gained 0.3%
Big Tech led the rally with stocks like Alphabet (GOOGL), AMD (AMD), and Nvidia (NVDA) making significant moves. However, traders remain cautious as tariff tensions between the US and China continue. šŗšøšØš³
China's Retaliation: Tit-for-Tat Tariffs š
China swiftly imposed 15% tariffs on US coal and LNG, along with 10% duties on crude oil, farm equipment, and autos. These new tariffs take effect February 10th.
US tariffs on China are already in motion, with a 10% levy on imports starting Tuesday. š¢ļøā”
Despite the tension, some Wall Street analysts see restraint in Chinaās response, suggesting the possibility for compromise. President Trump has already moved up talks with President Xi Jinping and a call could happen tomorrow. š¤š
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