US close: Dow falls just short of another record high
By Iain Gilbert
Date: Tuesday 12 Nov 2019
(Sharecast News) - Stocks closed on a mixed note on Tuesday, with the Dow Jones Industrials falling just short of registering its tenth record close of the year.
At the close, the Dow Jones Industrial Average was flat at 27,691.49, while the S&P 500 closed 0.16% firmer at 3,091.84 and the Nasdaq Composited saw out the session 0.26% stronger at 8,486.09.
The Dow closed flat on Tuesday and fell just shy of recording another all-time high after seeing out the previous session slightly higher on the back of some positive news from Boeing that helped the index erase a 135-point decline in early trading.
Market participants remained firmly focused on China-US trade news on Tuesday, with some concerns regarding the likelihood of the two global economic superpowers actually managing to sign a trade deal in the coming weeks reappearing after Donald Trump said on Friday that he had not agreed to scrap American trade tariffs on Chinese goods.
The President spoke at the Economic Club of New York, with investors looking for clues as to the status of the ongoing trade talks between the US and China but he offered very little.
Trump also lambasted previous US leaders for allowing China to "cheat" on trade.
On the data front, confidence in the US economy rose amongst small business owners in October as recession fears eased, according to the National Federation of Independent Business.
The NFIB's small business optimism index rose 0.6 points to 102.4 last month as business owners continued to create jobs, raise wages and expand their businesses.
In corporate news, CBS shares closed 3.72% lower on the back of its quarterlies, while semiconductor stocks such as Marvell Technology and Micron Technology led gains - up 4.16% and 1.38%, respectively.
Rockwell Automation shares surged 10.11% after the company posted quarterly results ahead of expectations, while shares in Advance Auto Parts sunk 7.63% following some weak same-store sales figures.
Disney shares rose more than 1% after launching its Disney+ streaming service and Facebook gained 2.6% after detailing a new payments tool that can be used through its applications.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN