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7/24/2018, 3:36 PM (Source: TeleTrader)
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Wall Street starts with gains, Nasdaq 100 hits record high

United States stock markets started the Tuesday trading session with gains while the Nasdaq 100 hit a fresh intraday high after US President Donald Trump once against escalated his rhetoric on trade by praising the trade restrictions imposed by his administration. He also vowed to keep the measures in place against all countries that fail to negotiate a trade deal with Washington. At the same time, European Trade Commissioner Cecilia Malmstrom said that global steel oversupply and a potential reform of the World Trade Organization (WTO) will be the key talking points during her tomorrow's meeting with Trump. On the earnings front, a number of major companies already posted their results, including 3M, Verizon and Lockheed Martin, while AT&T is set to reveal its figures after the bell today.

The Dow Jones gained 0.49% at the start of the session, with Caterpillar and Verizon leading the way. The Nasdaq 100 added 1.08% to begin the session with a new intraday high, with Alphabet the biggest contributor after the Google parent company posted better-than-expected results yesterday. Meanwhile, the S&P 500 was up 0.59% to open the trading day in the green, with Avery Dennison manufacturing company the best performer.

The euro was virtually unchanged against the dollar to sell for 1.1694, while the pound added 0.17% versus the greenback to sell for 1.3125 at the same time.

Breaking the News / FH