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The Closing Bell: Stocks Edge Higher On Hopes Of US-China Trade Deal, Amazon Rises
FYI: Stocks bounced back from early losses to trade higher Tuesday as gains in so-called defensive sectors helped to offset fresh anxieties that a near-term resolution to trade tensions between the U.S. and China can be reached.
Shares of industrial and material companies notched some of Tuesday’s biggest declines, as trade-sensitive stocks like Caterpillar and 3M dragged the Dow Jones Industrial Average lower. Falling shares of United Technologies also weighed on the blue-chip index following the conglomerate’s announcement that it would split itself into three companies.
The losses followed Mr. Trump’s threat late Monday that the U.S. would slap more tariffs on Chinese goods, which dashed the hopes of some investors that the meeting between the U.S. president and Chinese leader Xi Jinping at the Group of 20 summit in Buenos Aires later in the week would lead to a meaningful de-escalation of tension
The Dow Jones Industrial Average traded 108 points higher, while the S&P 500 gained 8 points and the Nasdaq Composite was up 0.1 percent. At its low of the day, the Dow dropped more than 200 points. Regards, Ted Bloomberg Evening Briefing: https://www.bloomberg.com/news/articles/2018-11-27/your-evening-briefing
