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US markets end in green on Tuesday

01 Aug 2018 Evaluate

The US markets ended on an optimistic note with all the major indices settling in green terrain, as sentiments remained up-beat with a private report indicating the U.S. and China are trying to restart talks aimed at averting a full-blown trade war. The report said that representatives for U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are having private conversations. Some support also came with the latest batch of U.S. economic data, including a report from the Commerce Department showing personal income and spending both increased in line with the street estimates in the month of June. The report said personal income climbed by 0.4 percent in June, matching the increase seen in May as well as expectations. The Commerce Department said personal spending also rose by 0.4 percent in June after climbing by an upwardly revised 0.5 percent in May. The street had expected spending to increase by 0.4 percent compared to the 0.2 percent uptick originally reported for the previous month.

A separate report from the Conference Board showed a modest rebound in consumer confidence in the month of July. The Conference Board said its consumer confidence index inched up to 127.4 in July from an upwardly revised 127.1 in June. The street had expected the index to rise to 127.0 from the 126.4 originally reported for the previous month. Meanwhile, traders seemed reluctant to make more significant moves ahead of the Federal Reserve’s money policy announcement on August 1. The Fed is widely expected to leave interest rates unchanged, but the accompanying statement is likely to be closely examined for any hints about future rate hikes.

The S&P 500 gained 13.69 points or 0.49 percent to 2,816.29 and the Nasdaq jumped 41.78 points or 0.55 percent to 7,671.79 and the Dow Jones Industrial Average was up by 108.36 points or 0.43 percent to 25,415.19.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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