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Wall Street stocks finish mixed as players digest US-China trade talks

Last updated: 16:05 13 Nov 2018 EST, First published: 02:14 13 Nov 2018 EST

NYC

US stocks settled mixed on Tuesday, as the market turned its focus on talks to resolve a trade conflict between China and the US.

The Dow Jones Industrial Average Index eased 0.22% to close at 25,331.

The S&P 500 added 0.06% to settle at 2,727.

The tech-laden Nasdaq gained 0.21% to end at 7,216. 

The Russell 2000 small cap index shed 0.15% to conclude at 1,516.

In Canada, Toronto’s TSX lost 0.19% to trade around 15,128.

1:25 PM: US stocks see mixed afternoon, but tech stocks push higher

Trading stayed choppy in Tuesday’s afternoon session as the Dow Jones Industrial Average Index fell despite renewed hopes about US-China trade talks.

At the time of writing, the Dow was off 67 points at 25,320, held back by Boeing, Exxon Mobil, Pfizer and Walmart Inc.

The S&P 500, meanwhile, was still trading in positive territory and was up nearly 5 points at 2,731.

The tech-laden Nasdaq also pushed higher, climbing by 36 points to 7,236, lifted by Vodafone Group, Nvidia Corp, Tesla, JD.com and Applied Materials Inc.

The S&P tech sector was also up about 1 %, with shares of Facebook, Amazon.com and Netflix all trading higher.

In Canada, meanwhile, Toronto’s TSX was also still rushing upwards to rise by nearly 55 points and hit 15,211 while the Russell 2000 index of small-cap stocks jumped by 8 points to reach 1,526.

10:00 AM: US stocks rebound from Monday's sell-off as tech stocks rise

US stocks moved higher in early trade on Tuesday as market sentiment was boosted by new advances in US-China trade talks and a rebound in tech stocks.

Treasury secretary Steve Mnuchin and Chinese Vice Premier Liu He have kicked off negotiations about a possible trade pact ahead of the G20 summit in Argentina where President Donald Trump and President Xi are to meet.

Also improving the market’s direction was a rebound in technology stocks, which jumped 0.7%, to recover from a steep sell-off on Monday when Apple shares took a hit on worries about a slowdown in sales of iPhones.

The price of oil also fell, with Brent Crude, the international benchmark, dropping to under $69 while West Texas Intermediate, the US measure slipped to under $59.  

Early in the session, the Dow Jones Industrial Average Index climbed 51 points to 25,438, lifted by Intel, Caterpillar, Visa, Microsoft and Goldman Sachs Group.

The S&P 500 also pushed 15 points higher to 2,741, lifted by Advance Auto Parts, Nvidia, Cabot Oil & Gas Corp, Nvidia and American Airlines Group.

The tech-laden Nasdaq also rose 70 points to 7,271, led higher by Vodafone Group, Nvidia, Ctrip.com International, Wynn Resorts, JD.com and American Airlines Group.

Up in Canada, Toronto’s TSX rose 52 points to hit 15,208, lifted by the renewed hope of US-China trade talks while the Russell 2000 index of small-cap stocks added 9 points to 1,528.

7:14 AM: Dow Jones Industrial Average points higher after Monday's sell-off ; European benchmarks rise

The Dow Jones Industrial Average is poised to start 141 points higher Tuesday after US stocks plunged Monday, helped on by a decline in tech stocks.

The slide in the sector came as titan Apple Inc (NASDAQ:AAPL) shares fell around 5% during the regular session to $194.17 after supplier Lumentum Holdings Inc (NASDAQ:LITE) slashed its earnings and sales forecast because of weak demand for iPhones.

After hours, Apple stock nudged 0.2% higher, however.

The FAANG stocks took a beating Monday in the wake of the news. Netflix Inc (NASDAQ:NFLX) dropped 3.1%, while Amazon.com Inc  (NASDAQ:AMZN) shares fell over 4% to $1,636.85. Alphabet's Google (NASDAQ:GOOGL) fell 2.57%.

Today, more earnings are expected and Home Depot (NYSE:HD) is a notable reporter before the New York bell.

So the Dow Jones closed a whopping  602 points lower yesterday at 25,387. The Nasdaq shed 206 points and the S&P 500  lost over 54  points.

In futures today, the Dow Jones is up 143 points; the S&P 500 is ahead by 17 and the Nasdaq futures are up 61 points.

In Europe, FTSE 100 is up around 12 points at the time of writing; the DAX is up by about 84 and the CAC 40 is ahead by around 20 points.

Connor Campbell, a financial analyst at Spreadex, said this morning on US trade: "...the Dow Jones is set to join the rebound, with the futures having the index rising 150 points as the markets cheer reports that trade talks have been restarted between the US and China.

"That would only just take the edge off yesterday’s losses, however, when the Dow tumbled as another wave of fear rippled through the pricey tech sector."

In Asia, stocks were generally mixed with the Nikkei 225 down 459 at 21,810, while the Shanghai Composite Index added around 24 points at 2,654.

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