US stocks
slipped down afternoon but closed on a record higher for a second straight
session on Tuesday, as news of proposed US tariffs on $4 billion worth of
imported goods from the European Union lowered the optimism from the pause of
U.S. and China trade war.
At the end of
the trading day, the Dow Jones Industrial Average gained 0.26% to 26,715.91,
the S&P 500 index increased 0.29% to 2,960 and the Nasdaq Composite Index edged
0.22% higher to 8,073.
The Trump
administration threatened to impose tariffs on $ 4 billion of meat, cheese,
wine and other EU goods, the proposed tariffs stem from a long-running dispute
between European Airbus and rival Boeing in the United States, a matter that
precedes protectionist policies of President Donald Trump for more than a
decade.
In Europe, Airbus
dropped by 0.27%, while Boeing declined by 0.61 in NYSE.
The US Trade
Representative's office added tariffs to $21 billion in EU imports. The Trump
administration's tariffs are pending the resolution of the Airbus-Boeing
dispute, which is currently being heard by the World Trade Organization.
Trump tweeted
earlier in April that "the EU has taken advantage of the U.S. on trade for
many years and it will soon stop!"
Furthermore, gold
climbed to $1,420.96 as some nervous investors shifted their money to the safe
haven asset, which managed to cover the downside gap that occurred at the
beginning of this week.
US markets will
finish early tomorrow and close on Thursday due to the 4th of July Public
Holiday.
Eyes will focus
on private employment, factory orders and services data on Wednesday, while
utmost attention will be on the government jobs report of June due on Friday.
The US dollar index, which measures the
performance of the green currency against six major currencies, slipped to
96.30 after hitting a low of 96.13.