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On Day 1 of Trade War, Dow Rises 99

Investors seems to shrug off worries
By Newser Editors and Wire Services
Posted Jul 6, 2018 3:27 PM CDT
Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Monday, July 2, 2018.   (AP Photo/Richard Drew)

(Newser) – The stock market shook off two weeks of losses and ended solidly higher even as Beijing and Washington imposed tariffs on each other's goods. Friday's gains on Wall Street followed two weeks of losses as trade tensions between the world's two largest economies mounted. The Dow Jones Industrial Average climbed 99 points, or 0.4%, to 24,456, per the AP. The Nasdaq composite increased 101 points, or 1.3%, to 7,688, and the S&P 500 index rose 23 points, or 0.8%, to 2,759. The broad advance in stocks suggests that traders anticipate that the trade spat won't last long enough or escalate badly enough to cause serious damage to either country's economy. A solid pickup in hiring by US employers last month helped keep investors in a buying mood. (Read more stock market stories.)

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