Sampp Dow Gain As Earnings Optimism Offsets Trade Tensions

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Sampp Dow Gain As Earnings Optimism Offsets Trade Tensions

– The S&P 500 and Dow rose on Friday as a clutch of upbeat quarterly earnings overshadowed worries of an escalating trade war between the United States and China, after Beijing proposed new tariffs on $60 billion worth of U.S. goods.

China’s retaliatory tariffs on U.S. goods ranged from liquefied natural gas (LNG) to certain types of aircraft and came after President Donald Trump proposed 25 percent tariffs on $200 billion worth of Chinese imports.

Trade-sensitive stocks such as Boeing (BA.N) and Caterpillar (CAT.N) fell 0.7 percent and 0.4 percent. LNG exporter Cheniere Energy (LNG.A) dropped 2.2 percent.

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