Published: Tue, March 13, 2018
Finance | By Loren Pratt

Trade tariff threats weigh on Wall Street industrials

Trade tariff threats weigh on Wall Street industrials

The story was different in the US, where continued worries about the steel and aluminum tariff implications helped push industrial stocks down on the Dow, while technology stocks continued their push higher.

The report also showed moderating wage growth, mitigating fears of runaway inflation that could prompt the Federal Reserve to hasten its pace of interest rate hikes.

Canada's main stock index closed higher Monday while USA markets were mixed as questions continue about the potential impacts of metal tariffs.

The 30-stock index declined 156 points, with Boeing, Caterpillar and United Technologies all falling at least 2 percent.

However, the S&P and the Dow have almost reclaimed those losses. The Nasdaq Composite climbed 0.2% after closing at a record on Friday.

"Even as the markets are looking fairly positive in general, especially south of the border, it's really a very narrowly-focused group of technology stocks that are carrying nearly all of the gains". S&P 500 e-minis ESc1 rose 5 points and Nasdaq 100 e-minis NQc1 gained 27.5 points. Shares in Reckitt Benckiser and tobacco makers British American Tobacco and Imperial Brands fell between 0.4 per cent and 1.9 per cent. However, trade turned lacklustre through the course of the session as investors exercised caution ahead of data on inflation, retail sales, housing and industrial production, due in the coming days. The UK's FTSE index was trading higher by 0.02 percent, while French CAC 40 Index rose 0.29 percent.

Oclaro jumped 25 percent and was the most traded stock after laser and optical fibre specialist Lumentum Holdings said it would buy the optical components producer for US$1.7 billion. This article is strictly for informational purposes only. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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