On Wednesday, the US markets closed higher after President Donald Trump has reportedly received "benefits" from the European Union in order to avoid a trade war.
Dow Jones Industrial Average index rose 172.16 points to 25414.10 after falling more than 100 points earlier in the trading session. Nasdaq Composite Index jumped 1.2% to a record level of 7932.24 as stocks Google subsidiary - Alphabet, as well as Facebook and Amazon shares jumped. S & P 500 index rose 0.9% to 2846.07 amid rising technology stocks by 1.5%.
Dow Jones reported, citing a representative of the EU, that the EU has agreed to import more soybeans from the United States. Dow Jones representatives also said that the EU has agreed to reduce tariffs on industrial goods.
After the publication of the US Caterpillar company report shares jumped 1.8%. Shares of Ford have shown positive results, after falling as much as 4% at the beginning of the day.
The report was published after Trump met with European Commission President Jean-Claude Juncker to discuss trade issues. In recent months, tensions between the US and the EU further tightened. In June, the US president threatened tariffs on imported cars from the European Union.
Last week, EU Trade Commissioner Cecilia Malmstrom said that if the US imposed these fees, it would be "a very wrong decision," and added that the unit has prepared its own list of countermeasures.
Stocks also rose from their lows after a bipartisan group of senators announced a bill that could potentially "neutralize" any tariffs imposed Trump administration. The bill would require the "International Trade Commission to conduct a comprehensive study of well-being, health and vitality of the United States automotive industry before the tariffs will be applied."
Companies such as Boeing and General Motors reported quarterly earnings that topped forecasts. Boeing shares fell 0.7%, General Motors Company shares fell 4.5%.
Coca-Cola Company, a member of the Dow, reported earnings that topped estimates. As a result, the stock rose more than 1%.
Wall Street has high hopes for this season arrived, and analysts polled by FactSet, expect a 20% increase in profits in the second quarter on an annualized basis.
About 30% S & P 500 companies have reported quarterly results. According to data by FactSet, from 82.6% of these companies reported earnings that topped forecasts.
Facebook shares have fallen by nearly 10% after the close of the trading session after the publication of quarterly earnings.
Ministry of Commerce plans to release first review of the economic growth in the second quarter on Friday. Economists polled by Reuters The, expect the economy to grow by 4.1%.
GDP report on Friday will depend on the disappointing data on new home sales. The Commerce Department reported Wednesday that new home sales fell to the lowest level since October 2017. Shares of construction companies fell sharply after the publication of data, with the index of SPDR S & P Homebuilders ETF fell 1.9%.
Based on materials WELTRADE