US stocks claw back lost ground as China stabilizes currency

Stocks have edged higher on Wall Street, a day after their worst loss of the year, as China eased some of the pressure in its trade war with the US by stabilizing its currency.A government report suggesting a cooling US job market kept bond yields in check after an early gainEuropean indexes edged mostly higher, while Asian indexes were broadly lower

Apple rose 0.6 per cent and Microsoft rose 1 per cent. Both companies get significant revenue from China and are highly sensitive to swings in the ongoing trade dispute. A government report suggesting a cooling US job market kept bond yields in check after an early gain. The yield on the 10-year Treasury rose to 1.77 per cent at one point, but retreated back to where it stood a day earlier at 1.73 per cent.Investors are growing more anxious as the US and China increase their trade war from a simmer to a boil and threaten global economic growth.

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