US stocks cheer US tariff delays

Major indices close with solid gains

The US stock indices cheered Pres. Trumps decision to delay US tariffs on certain consumer items until December 15, while other products were being removed from the tariff list altogether. The administration cited health and security factors. 

Pres Trump also said that delaying tariffs ahead of the Christmas season was to avoid an impact on holiday shopping.  He also said that the delays “helped a lot of people”

The decision helped the stock indices as they all closed with solid gains.

The final numbers are showing:

  • The S&P index closed up 43.24 points or 1.50% at 2926.33. The high extended to 2943.31 with the low reaching 2877.05. At the high the index was up 2.09%
  • The Nasdaq index rose 152.94 points or 1.95% at 8016.36. The high reached 8065.24 while the low extended to 7851.58. At the high the index was up 2.57%.
  • The Dow rose 382.20 points or 1.48% at 26279.91.  The high reached 26426.97, while the low extended to 25833.25. At the high the index was up 2.01%.

The chart below shows the % high, low and close changes for the day for North American and European indices.  The US indices were down early in the day but got the boost on the tariff news headlines and moved higher. European indices also rose on the day.

Major indices close with solid gains

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