Wall Street this Monday renewed historic records in its three indicators but with slight gains, between contradictory messages on the progress of trade negotiations between the U.S. and China to reach a “first phase” agreement.
The Dow Jones Industrials, the main indicator of the New York Stock Exchange, rose 0.11% or 31.33 points at the end of operations, to 28,036.22, while the S&P 500 rose 0.05% or 1.57 whole, standing at 3,122.03.
The Nasdaq composite market index, which brings together major technology firms, also rose by 0.11% or 9.11 points to end at 8,549.94.
New York’s parquet began the week the same way as the previous one ended, with three records, although a little less optimistic regarding the proximity of a solution to the tariff conflict that the two largest economies in the world have maintained for months.
In the electronic transactions prior to the opening, investors were encouraged by a “constructive” conversation supposedly held by negotiators on both sides this Saturday, but today CNBC reported that China was “troubled” by the refusal of U.S. President Donald Trump to withdraw tariffs.
Thus, Wall Street opened much more cautiously, as the market was inclined towards safer securities, and went through an irregular day that finally ended with slight gains.
The extension by the Trump government of the deadline allowing Chinese manufacturer Huawei to do business with U.S. companies until February 2020, which in the context of the trade war was considered a step forward, had a positive influence.
In the Dow’s group of 30 listed companies, Disney (2.06%) rose, followed by UnitedHealth (1.31%), Nike (1.23%), Walmart (1.16%), Procter & Gambler (1.12%) and JPMorgan (0.84%).
At the other end of the list, Chevron (-1,73 %), Caterpillar (-1,18 %), Dow (-0,98 %), Exxon Mobil (-0,97 %) and Merck (-0,91 %) all fell back.
By sector, the greatest progress was made by essential (0.54%) and non-essential (0.34%) companies, as well as real estate (0.50%), while energy (-1.33%), health (-0.38%) and industrial (-0.33%) companies.
In other markets, Texas intermediate oil fell by 1.2% to 57.05 dollars a barrel and at the close of Wall Street, gold rose to 1,471.60 dollars an ounce, the yield on the 10-year Treasury bond fell to 1.815% and the dollar lost ground against the euro at an exchange rate of 1.1071.