Wall Street appeared to have expected the worsening of tensions between the U.S. and China after Beijing said it would raise tariffs on $60 billion of U.S. imports in response to President Trump’s tariff hike last week.
Futures for the Dow Jones Industrial Average were up 0.57 percent and the Nasdaq Composite were higher by 0.68 percent. Futures for the tech-heavy Nasdaq Composite were up 0.92 percent.
|I:DJI||DOW JONES AVERAGES||25324.99||-617.38||-2.38%|
|I:COMP||NASDAQ COMPOSITE INDEX||7647.02382||-269.92||-3.41%|
Ride-hailing firm Uber’s stock is up almost 2 percent premarket; if it can hold those gains through Tuesday’s close it would be the first positive day for Uber as a public company, following Friday’s disastrous IPO where the stock fell 7.62 percent on Friday and 10.75 percent Monday. Shares of Lyft are also along for the ride.
|UBER||UBER TECHNOLOGIES INC||37.10||-4.47||-10.75%|
The yield on the 10-year Treasury was flat at 2.41 percent.
Crude oil prices slipped modestly, with West Texas Intermediate, the U.S. benchmark, selling for $61 per 42-gallon barrel.
China’s Shanghai Composite closed down 0.69 percent, the Hang Seng was lower 1.50 percent and Japan’s Nikkei 225 ended off 0.59 percent.
Britain’s FTSE 100 was up 0.81 percent, France’s CAC 40 climbed 0.93 percent and Germany’s DAX rose 0.44 percent.