Tue, 07 Jul 2020

NEW YORK, New York - U.S. stocks were sharply higher on Tuesday, particularly in the tech sector after the U.S. made some concessions on its hard-line tack against the Chinese telco Huawei.

The U.S. dollar, which had risen sharply in Asia, retained its strength through the U.S. session, particularly against rthe British pound which hovered below the 1.2700 level.

The Dow Jones Industrial Average accelerated 197.7 points or 0.77% to 25,877.60 by the close on Tuesday.

The Standard and Poor's 500 jumped 24.23 points or 0.85% to 2,864.46.

Faring best of all, the Nasdaq Composite advanced 83.35 points or 1.08% to 7,785.72.

The euro remained weak at 1.1161, around the New York close on Tuesday. The British pound continued its humiliation, being last quoted at 1.2698.

The Japanese yen fell in the U.S. session, closing out at around 110.54. The Swiss franc also weakened, to 1.0112.

The Australian dollar corrected a little higher from its Asian low, to 0.6884. The New Zealand dollar however showed no sign of recovery, and was looking beleagured at 0.6506.

The Canadian dollar went against the trend Tuesday, rising a little to 1.3505.

In overseas markets, Lon don's FTSE 100  rose 0.25%. The German Dax advanced 0.85%, while in Paris the CAC 40 rose 0.50%.

In Asian markets Tuesday, in Tokyo, the Nikkei 225 lost 29.28 points or 0.14% to 21,272.45.

The Shanghai Composite gained 35.36 points or 1.23% to 2,905.97.

The Australian All Ordinaries added 19.70 points or 0.30% to 6,584.50.

Thge Hong Kong Hang Seng fell 130.37 poin ts or 0.47% to 27,657.24.



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