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14-Nov2018

US markets end mostly lower on Tuesday

The US markets ended Tuesday's choppy trading session mostly lower, as a surge in optimism over trade talks with China was offset by a plunge in crude prices. Besides, traders continued to express uncertainty about the global economic outlook and the impact of an anticipated increase in interest rates. A notable drop by Boeing (BA) weighed on the Dow after a report said the aerospace giant withheld information about potential hazards associated with the automated stall-prevention system on its 737 MAX 8 and MAX 9 models. Home improvement retail giant Home Depot (HD) also closed lower despite reporting better than expected third quarter results and raising its full-year guidance.

Investors shrugged off a report from the Wall Street Journal indicating high-level US-China trade talks have resumed ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping later this month. The Journal said Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He spoke by telephone on Friday about a deal that would ease trade tension. Traders seemed reluctant to make more significant moves ahead of the release of closely watched reports on consumer price inflation, retail sales and industrial production in the coming days.

Dow Jones Industrial Average declined 100.69 points or 0.40 percent to 25,286.49 and S&P 500 slipped 4.04 points or 0.15 percent to 2,722.18, while Nasdaq edged up by 0.01 points to 7,200.88.


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