All three major indices closed Thursday's session in positive territory for the fourth time in five sessions as U.S. markets look to shake off fears of pressure from the trade war that is burgeoning between the U.S. and China.
The Dow Jones Industrial Average gained 0.75%, or 182 points to 24,357, while the S&P 500 rose 0.86%, or 23 points to 2,737, and the Nasdaq rose 1.12%, or 84 points to 7,586.
Glencore Announces $1 Billion Share Buyback
Shares of Glencore Plc (GLNCY) shares were up 3% Thursday afternoon after the company announced a $1 billion share buyback plan.
The plan was announced just days after the company's stock fell 12% after it announced that the Justice Department was seeking records about its compliance with U.S. anti-bribery and anti-money-laundering laws in the Democratic Republic of Congo, Nigeria and Venezuela.
The mining company has also faced tailwinds all year due to the state of its mining operations in Congo where newly imposed mining laws are seeking to extract higher payments from outside companies.
Mall Vacancies Are at a 6-Year High
Mall vacancies in metro and regional malls in the U.S. rose to 8.6% in the second quarter, the highest vacancy rate since the end of 2012, according to a report from real estate research firm Reis.
"We were over-retailed," said Barbara Denham, a senior economist at Reis, according to Channel3000. "The recession knocked a lot of stores out of business."
Online shopping growth is one of the major factors leading to the vacancies even though online sales only account for less than a tenth of total retail sales. Online retail is growth at a 15% rate per quarter.
Ford Says It Has No Plans to Increase Prices in China Despite New Tariffs
Ford (F) says that it will not pass added costs from a new round of Chinese tariffs on to customers, announcing that it will not hike prices of its imported Ford and Lincoln models in the country.
The Chinese tariffs, which are a response to tariffs imposed by the U.S. on Chinese exports, will affect around $34 billion of U.S. imports of everything from soybeans to cars.
The Trump administration is expected to go ahead with plans to implement tariffs on $34 billion of Chinese imports. China plans to place an additional 25% tax on 545 U.S. imports.
Shallow Employee Pool Leads to Private Payrolls Miss
Private payrolls in the U.S. grew by 177,000 in June, falling short of the 190,000 jobs that analysts polled by Thomas Reuters were expecting.
June was the fourth straight month of growth below the 200,000 job threshold.
Medium-sized businesses that employ between 50 and 499 people added 80,000 payrolls while large businesses added 69,000 jobs and small businesses added 29,000 jobs.
There is concern among economists that the tight job market could put upward pressure on wages and force the Federal Reserve to raise interest rates earlier than the markets would like.
Walmart Pulls Controversial Shirt Following Threat of Protest
Walmart WMT is no longer carrying a shirt emblazoned with "Impeach 45" in its online store after Twitter users threatened to boycott the big box retailer.
Students for Trump chairman Ryan Fournier made the social media sphere aware of the existence of the shirt, leading to the backlash.
"We're removing these types of items pending review of our marketplace policies," the company told the Washington Post.
Walmart shares were up nearly 1% in morning trading.
U.S. futures were climbing ahead of the market open Thursday, July 5, a day after markets were closed for the Independence Day holiday.
Dow futures were climbing 0.65%, indicating an open 157 points higher, while S&P futures were up 0.66%, indicating an open 18 points higher, and Nasdaq futures were gaining 0.74%, indicating an open 52 points higher.
Asian markets were lower across the board, led by the Shanghai Composite which declined 0.91%, while the Nikkei dropped 0.78% and the Hang Seng fell 0.21%.
European markets were rising across the board, led by the DAX, which was gaining 1.54%, the CAC 40 which rose 1.2%, and the FTSE 100 which gained 0.62% with about four hours left in trading.