Stocks cling to tiny gains

Stocks cling to tiny gains

-China trade agreement, which is expected to be signed in Washington on Wednesday, have encouraged of riskier bets over the last week.

Even a partial deal should remove much of the uncertainty that has weighed on companies and investors, at least until after the US presidential election, said Scott Ladner, chief investment officer for Horizon Investments in Charlotte.

"Would the market be more satisfied with a reduction in those tariffs?" "Nonetheless, you don't want to have an escalation in the tariff war". The index had been up as much as 0.2 percent earlier.

The Nasdaq composite slid 22.60 points, or 0.2%, to 9,251.33.

The Dow Jones Industrial Average rose 32.62 points, or 0.1%, to 28,939.67.

U.S. Treasury prices are higher, driving down both the two-year and 10-year yields by 3 bps to 1.55% and 1.79%, respectively; U.S. Dollar Index -0.2% to 97.18.

President Donald Trump and China's chief negotiator, Liu He, are scheduled to sign the "Phase 1" deal that will ease some sanctions on China. Beijing, meanwhile, will step up its purchases of USA farm products and other goods.

With the trade issue entering a new stage, Wall Street is focusing on the rollout of corporate earnings reports over the next few weeks.

Shares open slightly higher on Wall Street, led by gains in healthcare and technology companies.

0 percent drop in earnings for the quarter. Citigroup shares gained 1.8%. Earnings season gets underway today, with JP Morgan, Citigroup and Wells Fargo all reporting. Banks were globally lower after Bank of America and Goldman Sachs reported lower earnings.

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Technology companies also climbed.

According to a Wall Street Journal report, the US and China have agreed to hold semiannual talks to resolve disputes and push for reforms.

Delta's solid report helped lift some of its rivals.

FactSet cautioned that S&P 500 fourth quarter profits were expected to fall 2% on a year-over-year basis.

The S&P 500 posted 64 new 52-week highs and 1 new low; the Nasdaq Composite recorded 155 new highs and 31 new lows.

The phase-one deal itself is a disappointment as it reflects a compromise measure, some analysts said. In South Korea, the Kospi fell 0.4% to 2,230.98.

"What we want to hear is what companies are seeing from their own customers, what are they hearing?" said Krosby.

Saluzzi said, however, that he would not be surprised if USA equities enter a "bit of a correction" despite a strong economic outlook, as they trade at nearly 19 times expected earnings in 2020. Energy and information technology stocks were among the worst performers. The chip maker dropped 1.9 percent.

Boston Scientific fell 6.2 percent after giving a weak fourth-quarter sales update.

In other trades, crude oil rose 5 cents to $ 58.28 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil, the worldwide standard, slid 78 cents to close at $64.20 a barrel.

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