AM Report 6 July 18: Trade tit for tat lifted markets on low volume

US sharemarkets increased on Thursday on the back of tech and auto shares, despite the looming US tariff deadline on Friday (midnight US time, 2pm AEST). Reports that President Trump may be willing to hold-off implementing tariffs on European cars boosted General Motors (+1.3%), Ford (+0.7%) and Fiat Chrysler (+6.0%). Micron Technology shares rose 2.6% after it confirmed that China's blocking of some chip sales wont materially impact its revenue. The Dow Jones was up by almost 182 points or 0.8%.

 

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