The main US stock indexes rose due, first of all, to the rebound in shares of the industrial goods sector after China took action to stabilize the renminbi.

The People’s Bank of China (NBK) set the average RMB exchange rate at 6.9683 yuan for $ 1, compared with analysts forecast 6.9871 yuan for $ 1. This happened just a few hours after the US Department of the Treasury called China the “currency manipulator” for the first time since 1994, after which it allowed the yuan against the dollar to fall below the important mark of 7 yuan for $ 1 after Trump’s threat to introduce new tariffs on Chinese imports .

The last step of the Chinese central bank was seen as an attempt to ease tensions between the two largest economies in the world. He reassured currency markets, which were shocked by fears that a trade war between the United States and China would develop into a currency war.

Meanwhile, White House adviser Larry Kudlow said US President Donald Trump still wants to continue negotiations with China. “The reality is that we would like to come to an agreement,” Kudlow told CNBC. “We plan that the Chinese delegation will come here in September. The situation may change with respect to tariffs. ”

Investors also analyzed the Job vacancy and labor turnover survey (JOLTS), which showed that in June the number of vacancies fell to 7.348 million from 7.384 million in May. Analysts had expected the number of vacancies to drop to 7.317 million. At the same time, the level of vacancies fell by 0.1% to 4.6%.

Most DOW components recorded an increase (25 out of 30). The biggest gainers were NIKE Inc. (NKE; + 2.87%). Outsiders were shares of Dow Inc. (DOW; -1.00%).

Almost all S&P sectors completed trading in positive territory. The industrial goods sector grew the most (+ 1.5%). Only conglomerate sector decreased (-0.3%)

At the time of closing:

Dow 26,029.52 +311.78 + 1.21%

S&P 500 2,881.77 +37.03 + 1.30%

Nasdaq 100 7,833.27 +107.22 + 1.39%