Off The Wire
S&P rises after report on Trump tariff plan
NEW YORK (Reuters) - The three major U.S. stock indexes gained ground on Thursday after a report that all countries could negotiate for exclusions from President Donald trump’s proposed metals tariffs and that Canada and Mexico could be exempted indefinitely.
The Associated Press cited unnamed sources for its report less than an hour ahead of Trump’s expected announcement.
“If you see these negotiations play out in this surgical manner the administration has been referring to you might see a less risky outcome,” said Emily Roland, head of capital markets research at John Hancock Investments in Boston.
The Dow Jones Industrial Average .DJIrose 63.41 points, or 0.26 percent, to 24,864.77, the S&P 500 .SPXgained 9.75 points, or 0.36 percent, to 2,736.55 and the Nasdaq Composite .IXIC added 28.61 points, or 0.39 percent, to 7,424.26.
Reporting by Sinead Carew in New York; Editing by James Dalgleish