New York Stock Markets Started Trading Slightly Higher on Thursday
New York stock markets started trading slightly higher on Thursday. The mounting tensions between the United States and China over Hong Kong are making investors somewhat cautious.
Developments surrounding the corona crisis are also being closely monitored, and traders are chewing up on the latest US economic data and weekly benefit claims.
After just after opening, the Dow-Jones index was 0.1 percent higher at 25,573 points. The broad-based S&P 500 went up 0.1 percent to 3,039 points, and tech exchange Nasdaq rose 0.2 percent to 9,429 points.
As expected, the Chinese Parliament has agreed to a proposal to make a special law to allow Chinese security services or agents to work in Hong Kong when national security is at stake.
In Hong Kong, it is feared that this is the beginning of the end of autonomous status. Shares sensitive to Chinese-American tensions were under pressure, including chip funds like Intel, which lost 0.7 percent.
Social media companies such as Facebook (minus 1.3 percent) and Twitter (minus 2.1 percent) are also receiving attention. President Donald Trump would like to make it easier to sue social media. He is upset after Twitter posted a truth report on some of his posts.
Boeing (plus 2.5 percent) announced it would cut 12,000 jobs in the US. The aircraft manufacturer is also slowly restarting production of the troubled aircraft 737 MAX.