Nasdaq logs 15th record of 2019 but stocks lose steam as Trump offers no new details on China trade deal

Tue, 12 Nov 2019 21:11:17 GMT


U.S. stock markets finished with lackluster gains on Tuesday but enough to push markets to levels at or near records. President Donald Trump said the U.S. and China are close to completing "phase one" of their trade deal, but didn't offer any fresh details. The Dow Jones Industrial Average finished the session virtually unchanged at around 27,691, narrowly missing its 10th record close of 2019. Meanwhile, the Nasdaq Composite Index closed up 0.3% to end at 8,486.09, while S&P 500 index finished with a lackluster gain of 0.2% to 3,091, also missing a record finish. All closing levels for benchmarks are on a preliminary level. Meanwhile, in corporate news, Dean Foods Co. voluntarily filed for chapter 11 bankruptcy protection on Tuesday, with the dairy company saying it was working toward an "orderly" sale of the company. Trade in the stock was halted, but had fallen 79% year-to-date. Separately, shares of Tyson Foods Inc. stock rose 7.4% Tuesday, even after the meat producer reported fourth-quarter earnings and sales that missed estimates.

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