US open: Stocks trade flat in shortened session

Wall Street trading opened on Tuesday's shortened session with some mixed results.

As of 1615 GMT, the Dow Jones Industrial Average was down 0.06% at 28,534.08, while the S&P 500 was 0.03% lower at 3,222.91 and the Nasdaq Composite was ahead 0.05% at 8,949.95.

The Dow opened 17.45 points lower on Tuesday after seeing out the previous session higher as Wall Street stocks turned in another round of record closes ahead of the Christmas break.

Market participants were largely focussed on developments on the US-China trade front on Tuesday as investors cheered news that Beijing will cut import tariffs on a wide range of US-made goods.

China's finance ministry announced that it would lower import tariffs on over 850 products from 1 January - ranging from frozen pork to semiconductors as it attempts to boost imports amid a slowing economy.

President Donald Trump said on Tuesday that the trade deal with China was getting done, stating there would be a signing ceremony with Chinese leader Xi Jinping.

On the data front, manufacturing activity in the Fifth District continued to weaken in December, according to the latest Manufacturing Survey published by the Federal Reserve Bank of Richmond.

The composite index fell from −1 in November to −5 in December, weighed down by decreases in the already negative indexes for shipments and new orders, while the third component — employment — increased slightly.

While no major corporate results were slated for release on Tuesday, Boeing shares were still in focus on the back of yesterday's news that Dennis Muilenburg had departed as CEO.

Trading will halt at 1800 GMT and resume as per normal on Thursday.