Farvahar Partners CEO Omeed Malik discusses the strength of economic fundamentals, former New York City Mayor Michael Bloomberg’s electability, private market valuations and trade agreements.
Stocks traded cautiously higher a day after the Dow Jones Industrial Average notched another record high.
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Investors were awaiting developments on the China-U.S. trade front after President Trump cast doubts over a Chinese official’s comments on gradually rolling back tariffs as negotiations progress.
The next hints on the status of talks between Beijing and Washington over their tariff war may come later in the day, when Trump is scheduled to give a speech on trade and economic policy at the Economic Club of New York.
U.S. stocks mostly fell after President Donald Trump said over the weekend that reports about U.S. willingness to lift tariffs were “incorrect,” only two days after a Chinese official said both sides agreed to rollbacks if talks progress.
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Stocks dropped as soon as trading began Monday, and the S&P 500 lost as much as 0.6 percent from its record level, though indexes pared their losses as the day progressed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 27691.49 | +10.25 | +0.04% |
| SP500 | S&P 500 | 3087.01 | -6.07 | -0.20% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8464.276795 | -11.04 | -0.13% |
The S&P 500 lost 0.2 percent to 3,087.01 and the Nasdaq composite slipped 0.1 percent.
The Dow Jones Industrial Average was an outlier and eked out another record, rising less than 0.1 percent.
A major factor in the advance was Boeing, whose shares soared 4.5% after the aircraft maker said it hopes to resume deliveries of its 737 Max jet next month.
Low interest rates have helped drive the stock market’s recent rally. On Wednesday, Fed Chairman Jerome Powell is due to give testimony to Congress about the economy.
Stock traders work at the New York Stock Exchange, Wednesday, Sept. 18, 2019. The Federal Reserve is expected to announce its benchmark interest rate later in the day. (AP Photo/Mark Lennihan)
In Asian markets on Tuesday, Japan’s Nikkei gained 0.8 percent, while the Hang Seng in Hong Kong added 0.4 percent. The Shanghai Composite picked up 0.2 percent.
Hong Kong shares bounced back from Monday’s sell-off, though protesters again disrupted the morning commute on Tuesday.
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The city has been wracked by anti-government protests for more than five months and tensions escalated Monday as violence grew more extreme.
The Associated Press contribute to this article.
