US close: Stocks turn red as Trump addresses United Nations
Stocks in the US slid into the red by the close on Tuesday, despite opening strongly after Treasury Secretary Steven Mnuchin confirmed that trade talks between China and the US would resume next month.
Dow Jones I.A.
38,239.66
04:30 15/10/20
Nasdaq 100
17,718.30
11:00 26/04/24
The Dow Jones Industrial Average ended the day down 0.53% at 26,807.77, the S&P 500 fell 0.84% to 2,966.60, and the Nasdaq 100 was 1.39% weaker at 7,710.04.
Sentiment had received a boost early in the day, when Mnuchin assured Fox News that negotiators from Washington and Beijing had made progress during last week's deputy-level meetings.
Around the same time, Bloomberg reported that China had granted new waivers to several companies exempting them from tariffs on at least two million tons of US soybeans.
US President Donald Trump spoke in front of the United Nations late in the session, talking on what he called “unfair” trade, as well as defence spending and immigration in what was described as a subdued, scripted address.
“The future does not belong to globalists. The future belongs to patriots,” he said.
Trump did talk on Iran, calling on its leaders to focus on its own situation after what he called four decades of failure.
“America knows that while anyone can make war, only the most courageous can seek peace,” the US President added.
On the data front, the Philadelphia Fed September non-manufacturing index increased two points to 9.5, with new orders also growing to 9.7 from 9.4.
Elsewhere, US house price growth slowed in July, according to the S&P/Case-Shiller National Home Price Index.
The 20-city index rose 2% year-on-year, down from a revised 2.2% growth in June and missing expectations for a 2.2% increase.
Lastly, consumer confidence in the US deteriorated in September with the consumer confidence index slumping to 125.1, missing expectations for a reading of 133.5, according to the monthly report published by the Conference Board.
August's reading of 135.1 was also revised down to 134.2.
In corporate news, Apple shares reversed earlier gains to finish down 0.48%, having earlier received a boost from the positive trade news around China.
Nike was down 0.58%, but was ahead more than 5% in after-hours trading after it posted first-quarter results after the close.
Dow Jones - Risers
Boeing Co. (BA) $381.65 1.23%
Walmart Inc. (WMT) $118.40 0.66%
Verizon Communications Inc. (VZ) $60.51 0.50%
Procter & Gamble Co. (PG) $123.61 0.32%
Coca-Cola Co. (KO) $54.30 0.30%
McDonald's Corp. (MCD) $212.02 0.23%
Travelers Company Inc. (TRV) $146.75 0.14%
Dowdupont Inc. (DWDP) $30.52 0.00%
American Express Co. (AXP) $118.17 -0.06%
United Technologies Corp. (UTX) $135.48 -0.14%
Dow Jones - Fallers
Goldman Sachs Group Inc. (GS) $207.75 -2.67%
Intel Corp. (INTC) $49.82 -2.12%
Caterpillar Inc. (CAT) $125.99 -1.89%
Unitedhealth Group Inc. (UNH) $225.00 -1.65%
Exxon Mobil Corp. (XOM) $71.14 -1.37%
JP Morgan Chase & Co. (JPM) $117.33 -1.30%
Walgreens Boots Alliance, Inc. (WBA) $53.63 -1.27%
Microsoft Corp. (MSFT) $137.38 -1.26%
3M Co. (MMM) $164.74 -1.21%
Chevron Corp. (CVX) $123.74 -0.93%
S&P 500 - Risers
Intuitive Surgical Inc. (ISRG) $541.46 2.56%
ConAgra Brands Inc (CAG) $29.56 2.28%
Hanesbrands Inc. (HBI) $14.89 2.27%
Norfolk Southern Corp. (NSC) $182.99 1.89%
Amer Water Works (AWK) $124.87 1.87%
Alliant Energy Corp. (LNT) $54.17 1.67%
Sempra Energy (SRE) $144.24 1.67%
DTE Energy Co. (DTE) $133.68 1.67%
Edison International (EIX) $75.34 1.59%
Hershey Foods Corp. (HSY) $155.66 1.53%
S&P 500 - Fallers
Fluor Corp. (FLR) $18.95 -8.45%
Marathon Oil Corp. (MRO) $12.22 -6.72%
Helmerich & Payne Inc. (HP) $40.76 -5.93%
Halliburton Co. (HAL) $19.49 -5.43%
Cimarex Energy Co (XEC) $48.18 -5.14%
Nektar Therapeutics (NKTR) $18.91 -5.09%
National Oilwell Varco Inc. (NOV) $21.56 -4.98%
Schlumberger Ltd. (SLB) $35.56 -4.74%
Twitter Inc (TWTR) $41.42 -4.52%
Mylan Inc. (MYL) $19.93 -4.46%
Nasdaq 100 - Risers
Intuitive Surgical Inc. (ISRG) $541.46 2.56%
DENTSPLY Sirona Inc. (XRAY) $53.04 1.45%
Wynn Resorts Ltd. (WYNN) $109.36 1.16%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $239.48 0.91%
Mondelez International Inc. (MDLZ) $55.05 0.81%
Ross Stores Inc. (ROST) $107.64 0.57%
Dish Network Corp. (DISH) $34.63 0.48%
Automatic Data Processing Inc. (ADP) $160.03 0.21%
Expedia Group Inc. (EXPE) $132.60 0.17%
Costco Wholesale Corp. (COST) $287.91 0.12%
Nasdaq 100 - Fallers
Tesla Inc (TSLA) $223.21 -7.47%
Baidu Inc. (BIDU) $97.61 -4.65%
Mylan Inc. (MYL) $19.93 -4.46%
Netflix Inc. (NFLX) $254.59 -4.26%
Alexion Pharmaceuticals Inc. (ALXN) $100.32 -4.11%
Workday, Inc. (WDAY) $167.51 -3.98%
Qurate Retail Inc. (QRTEA) $10.26 -3.84%
Illumina Inc. (ILMN) $295.28 -3.45%
PACCAR Inc. (PCAR) $68.19 -3.11%
JD.com, Inc. (JD) $29.41 -3.03%