Central Mass. stocks up after Trump delays Chinese tariffs
Photo | Grant Welker
The Oxford headquarters of IPG Photonics
U.S. markets and the stock price of several Central Mass. companies were up Tuesday after the President Donald Trump Administration announced some of the $300 billion in tariffs on Chinese imports scheduled to go into effect Sept. 1 will be delayed until December.
The U.S. Trade Representative said the delay was due to health, safety and national security. Products include cell phones, laptops, video game consoles, toys, computer monitors and clothing.
Oxford- laser manufacturer IPG Photonics, which has seen its stock price fall from more than $250 per share last year to below $120, was up more than 3% Tuesday to about $122.
The company has cited the ongoing trade war with China for its declining sales and performance on Wall Street.
Natick machine vision systems manufacturer Cognex Corp., another firm struggling to tread water in China amid the tariff spat, was trading up nearly 4% Tuesday to about $45 per share.
Fiber optics manufacturer Acacia Communications of Maynard was up 1.26% as of 2 p.m. Tuesday.
Framingham clothing and housewares retailer TJX Cos. was trading as high as $54 on Tuesday after closing at below $52 on Monday, good for a more than 3% bump.
The stocks mirror the trend of several indices also receiving a bump Tuesday, including the S&P 500 and Dow 30, both up about 1.5%. The Nasdaq was trading up more than 2% as of 2:15 p.m.
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