Investing.com – The Dow closed higher on Tuesday, as investor concerns over trade seemed to ease after US economic adviser Larry Kudlow offered some hope for an agreement with China.
The rose of around 0.44%. He went up 0.33%, while he went up 0.01%.
Wall Street rebounded from a sell-off early on Tuesday when Kudlow said President Donald Trump believes there is "a good chance" that a trade agreement with China could be reached, but stressed that Beijing would have to meet "certain conditions" on trade.
China's response to Trump's demands so far has been "disappointing" and "unsatisfactory," Kudlow added.
Uncertainty about a possible trade agreement weighed in the corners of the market sensitive to trade as materials fell more than 1%, led by DowDuPont (NYSE :), the nutrient mining company Mosaic NYSE 🙂 and fertilizer distributor CF Industries (NYSE :).
Trump told The Wall Street Journal on Monday that it was "highly unlikely" that EE. UU It will delay the increase in tariffs of $ 200 billion in Chinese products to 25% from 10%, which nullifies the hope that a meeting between Trump and Chinese President Xi Jinping in the next G20 meeting would lead to a trade agreement .
A gain on Netflix (NASDAQ 🙂 supported the technology, pushing the broader market to the top, after the transmission giant announced plans to venture more into the content for children, reaching a new agreement to encourage the popular books by Roald Dahl.
The communication services sector, which includes three of the four FANG shares, increased by 0.6%.
However, energy stocks held back the gains in the broader market, however, pressured by the stagnation of oil prices, as traders continued to weigh the record Saudi production reports against the possibility that the main oil producers will agree to cut production to a low level.
In a sign of uneasy sentiment about stocks, investors turned to the defensive sectors of the market, which pushed the companies of public services and basic consumer products 1% more.
On the economic front, it exceeded economists' expectations in November, but still remained close to its all-time highs.
In corporate news, Vertex Pharmaceuticals (NASDAQ) rose 5% after the drug maker said its combination therapy produced lung function in patients with cystic fibrosis, compared with those treated with placebo.
Tesla (NASDAQ :), meanwhile, reduced some early losses after denying a report that sales in China last month had plummeted by 70% compared to the previous year.
Top winners and losers of S & P 500 today:
Pacific Gas & Electric (NYSE :), Advanced Micro Devices (NASDAQ 🙂 and Vertex Pharmaceuticals (NASDAQ 🙂 were among the main winners of the S & P 500 in the session.
Aptiv (NYSE :), United Technologies (NYSE) and Huntington Ingalls Industries (NYSE 🙂 were among the worst S & P 500 of the session.
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