The world market rally loses steam in the middle of pricing uncertainty

New York (AP) – A great gathering for the actions that started in Asia on Thursday lost steam after swept Europe and the United States in the midst of the uncertainty of what will happen after a US Short blocked Many members of President Donald Trump radical prices.

The S&P 500 increased by 0.4% after abandoning more than half an early gain. The industrial average of Dow Jones added 117 points, or 0.3%, and the NASDAQ composite increased by 0.4%.

It is a demotion after the actions initially jumped almost 2% in Tokyo and Seoul, where the markets had the first chance to react to the decision on Wednesday evening by the American Court of International Trade. The court said that the 1977 international emergency powers law that Trump quoted to order increase in import taxes from around the world does not allow the use of prices.

The decision first raised hopes on the financial markets that a Trump in hand is unable to drive the economy in a recession with its prices, which had threatened to drop world trade and increase the prices of consumers already in the event of high inflation. Trump said he wanted to bring back manufacturing jobs to the United States, and he warned that the process could cause pain to American households.

But the prices remain in place for the moment while the White House appeals to the decision, and the ultimate result is still uncertain. The courtyard The decision also affects only some of Trump’s pricesNot those on foreign steel, aluminum and cars, which have been invoked by a different law.

Trump “is still able to impose significant and long-term large-scale prices by other means,” according to Ulrike Hoffmann-Burchard, director of investment in global actions at UBS Global Wealth Management.

Such uncertainty has helped to alleviate the excitation of the financial markets while trade was heading through Europe in the United States, where the movements were much more modest than in Asia. The decision of the American court was nevertheless considered a positive for the financial markets.

“The bar is lifted for President Trump to resuscitate his prices,” said Brian Jacobsen, chief economist of Annex Wealth Management.

“The markets are prices that it is a better type of uncertainty than what we have had since the liberation day”, which Trump called his announcement on April 2 of a global set of radical prices.

The S&P 500 drew less than 3.8% from its top of all time after falling About 20% below at one point last month.

In Wall Street, technological actions paved the way after NVIDIA has again exceeded the expectations of analysts For profit and income in the last quarter.

The flea company has become one of the most important and most influential actions on the American market due to the frenzy of artificial intelligence technology, and its 3.2% increase was the strongest force from the S&P 500.

C3.AI, an AI application software company, jumped 20.8% after declaring a higher profit than analysts scheduled for its last quarter. He also said that the US Air Force increased the maximum possible value for its $ 350 million contract to $ 450 million. The company’s revenues in the last quarter have totaled $ 108.7 million.

Elf Beauty was another big winner and increased by 23.6% after the cosmetics company made a stronger profit for the last quarter that analysts did not provide for it. He also said that he had agreed to Buy the Hailey Bieber Rhode skin care brand in an agreement of $ 1 billion. Rhode made $ 212 million in net sales in 12 months to March.

Bieber, a model and the Wife of singer Justin Bieberwill be the creative director of Rhode and chief of innovation and also strategic advisor for combined companies.

They helped compensate for a drop to Best purchaseWho dropped 7.3% even if he declared a stronger profit than expected. His income did not reach the analysts’ forecasts.

The electronics retailer has also reduced its ranges provided for income and profits during the full year assuming that “the prices remain at the current levels for the rest of the year, and there is no significant change in consumer behavior of trends that we have seen in the last quarters,” said financial director Matt Bilunas.

Many companies have recently declared that the uncertainty caused by prices makes it too difficult to offer financial forecasts for the coming year.

All in all, the S&P 500 increased from 23.62 points to 5,912.17. The industrial average of Dow Jones added 117.03 to 42,215.73, and the NASDAQ composite gained 74.93 to 19,175.87.

In the bond market, the treasure yields have relaxed following certain mixed reports on the economy. We said that the The American economy has probably decreased less During the first three months of the year that previously estimated. Another said A little more American workers have asked for unemployment benefits Last week that economists did not expect.

The yield on the 10 -year treasure fell at 4.43% against 4.47% Wednesday evening.

In stock markets abroad, the Nikkei 225 in Japan jumped 1.9% to help direct higher Asian markets, while shares increased 1.4% in Hong Kong and 0.7% in Shanghai. Kospi in South Korea has joined 1.9% after the Korean bank reduced its key interest rate to relieve the pressure on the economy.

The movements of European actions have been much more silent. The CAC 40 of France and the Dax of Germany both moved from early gains to modest losses.

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Commercial editors AP Matt Ott and Elaine Kurtenbach contributed.