FYI: Major U.S. stock indexes wobbled between gains and losses Wednesday as fresh doubts emerged over the prospects for a trade deal with China.
The Dow Jones Industrial Average gained 0.33% in afternoon trading. The S&P 500 was up 0.07%, while the Nasdaq Composite was down .05%. All three indexes are near record highs.
A report in the The Wall Street Journal that trade talks had hit a snag over Chinese purchases of U.S. agricultural goods sent the S&P 500 into negative territory in afternoon trading, but the index later bounced back.
Meanwhile, overseas markets were rattled as unrest gripped Hong Kong, including parts of the financial district. The Hang Seng fell 1.8%, while Japan’s Nikkei 225 fell 0.9%.
In Europe, the benchmark Stoxx Europe 600 dropped 0.3%.
Haven assets made gains. The yield on the U.S. 10-year Treasury slipped to 1.872%, from 1.909% Tuesday. Yields move in the opposite direction from prices. Gold futures climbed 0.7% to $1461.70 a troy ounce.
New data showed U.S. consumer prices rose slightly more than expected last month, driven by higher energy costs. The consumer-price index rose a seasonally adjusted 0.4% in October from the previous month, the Labor Department said. Economists surveyed by The Wall Street Journal had forecast a 0.3% rise.
In his testimony, Mr. Powell said stable inflation—along with moderate economic growth and a strong jobs market—were factors supporting the Fed’s stance that new rate cuts were unnecessary.
n corporate news, Disney shares gained 7.7% after the entertainment giant said it had signed up 10 million users for its new streaming service.
Shares of Energizer Holdings jumped 14% after the battery manufacturer’s revenue growth came in better than expected.
Cloud-based data analytics company Datadog’s shares rallied 16% after its earnings beat expectations, reporting results for its first quarter as a public company.
SmileDirectClub, a teeth-straightening startup that was also reporting for the first time since its initial public offering, tumbled 19% after it said losses had widened in the latest quarter.
In commodities, U.S. crude oil futures gained 32 cents per barrel, or 0.6%, to $57.12.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-11-13/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stocks-futures-edge-tentatively-higher-as-wall-street-awaits-trump-speech-2019-11-12/printWSJ:
https://www.wsj.com/articles/global-stocks-slip-on-doubts-about-china-u-s-tariff-talks-11573638675Bloomberg:
https://www.bloomberg.com/news/articles/2019-11-12/asian-stocks-eye-mixed-open-on-trade-uncertainty-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-climbs-powell-speech-china-trade-worries-disney-stock-buy-range/CNBC:
https://www.cnbc.com/2019/11/13/dow-futures-fed-chair-jerome-powell-speech.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-higher-as-feds-powell-says-economy-in-good-shape-idUSKBN1XN1L2U.K:
https://uk.reuters.com/article/uk-britain-stocks/ftse-dips-on-murky-trade-view-tullow-tanks-on-mid-caps-idUKKBN1XN0XVEurope:
https://www.reuters.com/article/us-europe-stocks/trade-woes-hk-unrest-knock-european-shares-off-four-year-peak-spain-lags-idUSKBN1XN0XAAsia:
https://www.cnbc.com/2019/11/13/asia-markets-november-13-us-china-trade-hong-kong-protests-currencies.htmlBonds:
https://www.cnbc.com/2019/11/13/us-bonds-treasury-yields-in-focus-as-investors-monitor-fed-speeches.htmlCurrencies:
https://www.cnbc.com/2019/11/13/forex-markets-us-china-trade-in-focus.htmlOil
https://www.cnbc.com/2019/11/13/oil-markets-us-china-trade-deal-in-focus.htmlGold:
https://www.cnbc.com/2019/11/13/gold-markets-us-china-trade-deal-us-dollar-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
