Mon, 01 Jun 2020

Nasdaq moves higher, industrials sag

By Jay Jackson, Boston News.Net
20 Mar 2019, 07:12 GMT+10

NEW YORK, New York - U.S. stocks were mixed on Tuesday, although moves in either direction were unremarkable.

Holding investors hostage were rumors that the U.S. trade negotiations with China had hit a patch of stormy weather.

"Trade fear has reared its head again with Trump administration concerns (that) China is walking back some of the pledges they've made in negotiations so far," Chris Zaccarelli, chief investment officer at Alliance in Charlotte, NC told the Reuters Thomson news agency Tuesday.

At the close of trading Tuesday, the Dow Jones industrials were down 26.72 points or 0.10% at 25,887.38.

The Standard and Poor's 500 was down 0.37% or 0.01% at 2,832.57.

The Nasdaq Composite, going against the trend, rose 9.47 points or 0.12% to 7,723.95.

The U.S. dollar was practically comatose. The euro was unchanged at 1.1350, as was the British pound at 1.3266.

The Japanese yen inched up to 111.40, while the Swiss franc firmed to 0.9992.

The Canadian, Australian and New Zealand dollars were little changed at 1.3326, 0.7087 and 0.6854.

In overseas markets, European shares were stronger across the board.

London's FTSE 100 gained 0.34%, the Greman Dax rose by 1.13%, and the CAC 40 in Paris was up 0.24%.

Stocks in Asia were little changed on Tuesday with the only market making ground being Hong Kong.

At the close of trading Tuesday the Nikkei 225 in Japan was down 17.65 points or 0.08% at 21,566.85.

The Shanghai Composite in China fell 5.44 points or 0.18% at 3,090.98.

The Australian All Ords slipped 7.00 points or 0.11% to 6,276.60.

In Hong Kong, the Hang Seng, going against the trend, gained 57.27 points or 0.19% at 29,466.27.

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