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The Closing Bell: U.S. Stocks Flip Between Gains And Losses Ahead Of Trade Talks
FYI: The S&P 500 struggled to find direction Monday as trade tensions simmered ahead of another round of negotiations between U.S. and Chinese officials.
With more than half of the companies in the broad index having reported fourth-quarter results, investors have turned their attention toward the continuing trade spat between the world’s two largest economies. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are scheduled to meet China’s vice premier later in the week in Beijing.
Communication stocks were the biggest drag on the broad index, with the sector falling 0.6%. Videogame company Activision Blizzard fell 6.8%, while Take-Two Interactive Software shed 3.7%, extending their losses so far this month into the double digits on a percentage basis.
The S&P 500 gained 0.7% the latest in a series of small moves above and below the flatline Monday. The Dow Jones Industrial Average shed 53 points, or 0.21%, to 25052, while the Nasdaq Composite rose 0.13%.
Seven of the eleven S&P 500 Sectors, led by Industrials had a positive day. Communication Services lead the decliners down over 1%. Regards, Ted
