NEW YORK -- Modest gains in US stocks helped global equity indices edge higher on Tuesday as investors weighed a US-China trade truce against Washington's threat to impose additional tariffs on European goods.
In addition, the US Trade Representative's office released a list of additional European products that could be subject to tariffs, on top of products worth $21 billion that were announced in April. These included olives, Italian cheese and Scotch whisky. "We’ve got a wait-and-see on the trade deal, a wait-and-see on the Fed, a wait-and-see on earnings and all of that is in front of us by at least two weeks," said Art Hogan, chief market strategist at National Securities in New York.MSCI's All Country World Index, which tracks stocks in 47 countries, rose 0.2 percent.
"While the threat of additional tariffs on EU imports is still an overhang for investors, the market is more likely taking a breather until new macro-economic data comes out," said Peter Cardillo, chief market economist at Spartan Capital Securities.