Sunday, 31 May 2020
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Stock market turns higher in early Tuesday trade as Wall Street attempts to halt multi day skid

U.S. stock markets on Tuesday opened modestly higher as investors wrestled with trade wars and political clashes in Hong Kong and worries about Sino-American trade.

The Dow Jones Industrial Average traded 45 points, or 0.2%, higher at 25,950, after tumbling more than 390 points on Monday. The S&P 500 index rose 0.3% to 2,892, while the Nasdaq Composite Index advanced 0.5% to 7,900.

A selloff in Hong Kong stocks accelerated, with the Hang Seng Index falling 2.1% amid continued unrest. Protesters thronged Hong Kong International Airport for a second day in a row Tuesday and have been protesting for the past 10 weeks, amid calls for an independent inquiry into alleged police abuses.

In economic news, the consumer-price index, a key measure of inflation, rose a seasonally adjusted 0.3% last month from June and 1.8% from July 2018, the Labor Department said. Economists had expected a rise 0.3% on the month.

Source : MarketWatch

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