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Chip Producers' Shares Beginning From Stock Market Profits Following Micron's



  • Mnuchin tells CNBC that "we were about 90% of the way we have" under the trade agreement with China
  • Mueller says he will testify for Russia's intervention on July 17

The shares of the company took part of the day's losses at the beginning of the trading session on Wednesday after the semiconductor stocks rebounded from the late quarterly results of Micron Technologies .

from the full, also provoked some modest purchases on Wall Street. Dow Jones Industrial Average

YMU19, + 0.21

%

rose by 50 points, or 0.2%, to 25,599, those for the S & P 500

ESU19, + 0.23%

advanced by 7 points, or 0.3%, at 2.924, while the Nasdaq Composite Index

NQU19, + 0.98%

climbed 68 points, or 0.9%, to 7.952.

Munchin told CNBC that Beijing and Washington are approaching a tariff agreement. "We were about 90% of the way there (with one deal), and I think there is a way to end this," he told the financial network in Bahrain.

The US Treasury Secretary said he was "encouraging" that a deal could be concluded as the market expects a side-by-side conversation between President Donald Trump and Chinese President Cing Dingping in the group of the 20s in Osaka, Japan, on Friday. Separately, President Trump, who appeared at Fox Business on Wednesday, said he was happy to raise China's tariffs if negotiations failed.

Concerns about the escalating tensions in trade between China and the United States, the world's largest economies, have fed a sense of increasing uncertainty about the health of the world economy, at least partly contributing to the central banks around the world that signal a desire to recover a new wave from economic incentives.

Share markets suffered one of the worst declines in a month, driven by the sale of trade-sensitive IT, on Tuesday, also among the risky assets that helped the S & P 500 Index

SPX, + 0.18%

last week to its first record on April 30.

DJIA, + 0.20%

stands about 1% shy of its October 3 record, while the technological Nasdaq Composite Index

+ 0.76%

is within the reach of its high level since May 3 for all time, although it declined 121 points, or 1.5%, in the previous session.

The fall on Tuesday came when Federal Reserve Chairman Jerome Powell, speaking at the Foreign Relations Council in New York, signaled that the cut in interest rates in July was not over, stressing that central banks are still watching the economy and Grapling with signs of weakness to avoid knee reaction as it plans to raise reference rates. Moreover, St Louis president James Bullard said he did not advocate an overly aggressive cut of 50 basis points to key futures of the federal funds when the FRS met next month.

Wall Street is currently likely to cut the interest rate in July to 100%, according to CME's FedWatch. Fed's Bullard says it's not for a half-point cut in July Read Read: Fed's Bull says it's not for half-point cut in July percentages. 19659005] "Positioning ahead of the G-20 summit between Trump and Si can see investors wanting a skin in the game before many believe it can produce a very positive result," said Edward Moya, senior market analyst at the brokerage Oanda company. Note.

"Restoring negotiations is likely to become a major scenario, and if we see a timeline, we can see that the shares are resuming a march to uncharted territory," he said.

There was worse economic data on Wednesday, with orders for long-term commodities for May dropping by 1.3%, weighted by Boeing Co .

BA, + 0.96%

unwanted from its ground jets 737 MAX. Checking t: Fixed-goods orders decreased by 1.3% in May, but business investment was inspired by the reassuring mark

A separate report on international trade in goods also showed that the trade deficit in The US rose by 5.1% in the same month, which was wider than expected

Read: The US trade deficit increased by 5.1% to $ 74.5 billion in May

Market participants may be partly watching the White House, after the reports indicate that Special Adviser Robert Mueller will testify the Democrats wanted but to hear Müller personally about his investigation into Russia's interference in the 2016 elections, as well as the possible impediment to justice by President Donald Trump.

Which stocks are in focus?

Shares of Apple Inc.

AAPL, + 2.37%

were in focus after the iPhone and technology giant acquired autonomous Drive.ai drive, according to a number of reports. Apple confirmed the deal for both Axios and San Francisco Chronicle. Apple's shares rose 2% at the beginning of Wednesday.

Micron Technology Inc. . shares

+ 12.47%

rose 11% at the beginning of trading on Wednesday after the chip maker's performance exceeded quarterly expectations and managers predicted improvement in the fourth quarter, although the actual numbers were restrained

This was good news for other semiconductor companies. Shares of Advanced Mico Devices

AMD, + 4.71%

rose by 5%; Nvidia Corp .

NVD, + 3.94%

5% and Stock Exchange Semiconductor Stocks iShares PHLX Semiconductor ETF

SOXX, + 3.38%

climbed 1.8%.

Boeing shares rose 0.5% at the beginning of Wednesday.


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