How major United States stock indexes fared Monday

How major United States stock indexes fared Monday

US oil prices have risen by 34 cents to $56.54 a barrel on positive trade output as the dollar grew, gold, considered a haven currency, was little altered.

MSCI's gauge of global stock markets set a 21-month intraday high but pared gains to close lower while the Nasdaq and Dow Jones industrial average eked out record closing highs.

At 10:31 a.m. ET the Dow Jones Industrial Average was up 23.02 points or 0.08% at 27,485.13; the S&P 500 was down 3.67 points or 0.12% at 3,074.60; and the Nasdaq Composite was down 3.15 points or 0.04% at 8,430.06. All three indexes closed at records Monday propelled by optimism over trade and a better-than-expected corporate earnings season. The "phase one" pact with China had been expected to deter President Trump from imposing new tariffs on December 15, but negotiators now are working on a plan that would also roll back some existing tariffs, The Wall Street Journal reported. -Chinese trade truce following reports Beijing wants Washington to lift punitive tariffs. Asian stock markets were mixed Wednesday, Nov. 6, 2019, after investors were rattled by a possible snag in a US -.

On Wall Street, the Dow Jones Industrial Average .DJI rose 30.52 points, or 0.11%, to 27,492.63.

USA and European government bond yields climbed on trade hopes and upbeat economic data.

The S&P 500 was up less than 1 point at 3,079.

China's central bank helped ease worries about a possible liquidity crunch by cutting its base interest rate on a one-year loan by 0.05% to 3.25%.

"Because the uptick was driven by risk sentiment, it's not sustainable unless we saw a meaningful turnaround in economic growth", Goodwin said.

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TRADE WAR: Chinese President Xi Jinping has promised more gradual market-opening steps and reports suggest that the US and China are considering rolling back more tariffs as they continue negotiations. Expectations were low this quarter, and on a whole, profits in the S&P 500 are down 2.7% from a year ago, according to FactSet. And investors have been sharply bidding up the shares of companies that topped expectations.

Medical device maker Medtronic gave up 1.5%. Hertz Global Holdings climbed 12% after the car-rental company posted a higher third-quarter profit.

Uber Technologies Inc fell 9.85 per cent as the ride-hailing service posted a bigger third-quarter loss from a year earlier. The shares may face increased pressure Wednesday, when a lockup period ends that prevented early investors and executives from selling shares. Its Class A shares plunged 18.9%.

Financial stocks in the S&P 500 climbed 1 percent for one of the largest gains among the 11 sectors that make up the index.

The dollar index .DXY rose 0.43%, with the euro EUR= down 0.48% to $1.1073. China sold $3 billion in USA dollars past year and $2 billion in 2017. Low interest rates can goose economic activity.

On Monday, Piper Jaffray downgraded the stock to Neutral from Overweight on fears that the departure of Easterbrook might put more burden on shares.

Rising optimism was evident not only in USA stock indexes but also in higher yields for Treasurys.

With the 10-year yield barely above the 1.7% inflation rate, many investors feel compelled to seek out higher returns in the stock market, thereby inflating share prices to levels that some strategists see as worrisome.

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