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Dow surges back for big gain after plunging on China tariffs

Stocked plummeted early in the day after trade tensions escalated between China and the United States. China announced plans for a 25% tariff on $50 billion a year worth of American exports, including canada goose outlet edmonton planes, cars, soybeans and chemicals.

canada goose coats on sale But investors seemed to reconsider, and White House officials cautioned that Wall canada goose outlet niagara falls Street shouldn’t overreact to fears of a trade war. Stocks climbed steadily all day after the big early canada goose outlet vip drop. canada goose coats on sale

cheap Canada Goose Investors are trying to “weigh the possibility that this is simply a negotiating ploy on both sides,” said Sam Stovall, chief investment strategist at CFRA Research. He canada goose outlet store calgary also canada goose outlet montreal warned against drawing conclusions too soon things may look different at the end of the week. cheap Canada Goose

canada goose deals Some investors may have seen an opportunity to buy oversold stocks, said Brad McMillan, chief investment officer for Commonwealth Financial Network. canada goose deals

“At this point it’s all theater and posturing,” canada goose outlet online uk he said of the threatened tariffs on both sides. “This is not the oncoming freight train that the market was assuming.”

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buy canada goose jacket No longer fearing an imminent trade war, investors are instead focusing on a promising earnings season, McMillan said. He added canada goose jacket outlet uk that if the political climate leads companies to revise their expectations lower, investors may start selling again. buy canada goose jacket

JJ Kinahan, chief market strategist with TD Ameritrade (AMTD), thinks that market volatility will continue until investors hear from CEOs. “I don’t think the story’s over,” he said.

Canada Goose online The United States has announced its own tariffs to punish China for stealing trade secrets. But the tariffs from both countries remain only threats and plans. It’s not clear when they would take effect, canada goose stockists uk and official canada goose outlet the two countries are still talking. Canada Goose online

canada goose store “This is not the start of a trade war. It’s the start of negotiations,” Vincent Reinhart, chief economist and macro strategist at BNY canada goose outlet factory Mellon AMNA, told Richard Quest on CNNMoney’s “Markets Now.” canada goose store

Earlier in the day, wary investors sold off industrial giants canada goose outlet uk sale that depend heavily on China for revenue, including Apple (AAPL), Boeing (BA), Caterpillar (CAT) and Intel (INTC). But the S 500 climbed to a gain of 1.1%, and canada goose outlet uk the Nasdaq finished up 1.4%.

Related: China fires back, announcing tariffs on US planes, cars and soybeans

buy canada goose jacket cheap canada goose outlet Investors may have also been comforted when Larry Kudlow, head of President Trump’s National Economic Council, said canada goose womens outlet the administration was not angling for a trade war. buy canada goose jacket cheap

“I can understand the stock market anxiety. I get that. But canada goose outlet belgium don’t overreact,” Kudlow said on Fox Business. The tariffs, he said, will lead to “better economic growth, more trading going on, improved wages on both sides.”

“I’m not a fan of tariffs,” he said, but added that they are “part of the process.”

Canada Goose Parka The former CNBC commentator is staunchly in favor of free trade, and he has canada goose outlet new york city spoken out against tariffs in the past. He said Wednesday that he supports Trump’s decision. Canada Goose Parka

canada goose clearance sale Still, investors believe Kudlow will prevent the administration from taking things too far, Stovall said, adding that Kudlow “is likely going to be advising a softer tone.” canada goose clearance sale

Canada Goose Outlet Trump said in a tweet Wednesday morning that “we are not in a trade war with China.” Canada Goose Outlet

Related: US proposes tariffs on 1,300 Chinese goods

Canada Goose sale China announced its planned tariffs hours after the Trump administration detailed proposed tariffs on about 1,300 Chinese goods, worth about $50 billion annually. The administration said it would hold a public hearing for US businesses next month. Canada Goose sale

“If protecting US intellectual property is the ultimate goal here, I’m not sure how destroying shareholder wealth, damaging CEO confidence and making the American farmer the main sacrificial lamb here after [six] years of pain on the farm is going to get us there,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, wrote in a note Wednesday.

canada goose clearance Despite trade war fears, the economic backdrop remains bright, and corporate earnings are still poised to grow. canada goose clearance

Canada Goose Jackets “The market is going through a canada goose outlet winnipeg self righting process by working off the excesses of investor enthusiasm. The fundamentals have not changed,” Stovall said. Canada Goose Jackets

CNNMoney’s Ivana Kottasov contributed to canada goose outlet in toronto this report.

canada goose coats CNNMoney (New York) canada goose outlet london uk First published April canada goose outlet england 4, 2018: 5:45 AM ET canada goose coats

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