US stocks close mixed on trade rumors

Tuesday, 19. March 2019 21:01

Equities on Wall Street ended Tuesday's trading session muddled, as only the Nasdaq 100 managed to remain above the flat line. Several media outlets reported trade negotiations between Washington and Beijing were entering their final phase. Factory orders in the United States in January increased just 0.1%, falling short of expectations, while the Federal Reserve said it expects the country's economy to sharply decelerate in 2019. Meanwhile, major financial institutions reported foreign exchange volatility reached the lowest level in five years.

The Dow Jones Industrial Average and the S&P 500 erased previous gains, dropping 0.09% and 0.01%, respectively. Dow's worst performer was The Walt Disney Company, which fell 2.76%. Meanwhile, the S&P was weighted by Fox Corp., whose Class A and B shares fell 22.47% and 21.46%, respectively, following the company's market debut. The Nasdaq 100 was 0.31% up at the closing bell, as AMD rose 12.09% on the news its custom graphics card will be used to run games of the Google's new Stadia platform.

The euro was up 0.19% to $1.13588 at 3:59 pm ET, while the British pound rose 0.12% against the dollar to change hands for $1.32725 at the same time.

FedEx Corp. is expected to release its earnings report shortly after the market close.

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Author:
Breaking the News / MD