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The Closing Bell: Stocks Alternate Between Gains, Losses Amid More Volatile Trading On Wall Street
FYI: Stocks traded in a wide range on Tuesday, alternating between gains and losses, as volatility continues to grip Wall Street.
Wall Street’s three major indexes turned higher in a volatile session as investors appeared hopeful about China-U.S. trade talks, reversing an earlier slump that coincided with President Donald Trump’s threat to shut down the U.S. government.
The Dow Jones Industrial Average finished down 51 points. At its high of the day, it rose as much as 368 points. It also fell as much as 202 points. The S&P 500 traded 0.3 percent lower sliding 0.6 percent earlier in the day. The Nasdaq Composite rose .16 percent.
Stocks initially rose more than 1 percent across the board amid signs that U.S.-China trade relations could be improving.
Bloomberg News reported earlier on Tuesday that China is moving toward cutting tariffs on cars made in the U.S. to 15 percent from the current 40 percent. The proposal has been submitted to the Chinese Cabinet and will be reviewed in the coming days, the report said. A U.S. official later told Reuters that China indicated it will cut the tariffs, but the U.S. would wait on formal documentation and timing.
Eight of the eleven S&P 500 Sectors were higher, lagging were Industrials , Materials and Financials Regards, Ted
