US close: Street closes mixed as Nasdaq notches ninth session of gains
Wall Street trading finished Tuesday's truncated Christmas Eve session in a mixed state, although the Nasdaq managed to record a fresh record after its ninth session of gains in a row.
The Dow Jones Industrial Average ended the session up 0.21% at 28,515.45, the S&P 500 slipped 0.02% to 3,223.38, and the Nasdaq Composite was 0.08% firmer at 8,952.88.
At the open, the Dow was 17.45 points lower after seeing out the previous session in the green, 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.
In corporate news, Boeing was down 1.36%, as investors continued to react to the news that chief executive officer Dennis Muilenburg was stepping down effective immediately, amid the ongoing global grounding of its 737 MAX jet after two fatal crashes.
Chairman David Calhoun is set to take over the CEO’s office in mid-January, once he has settled his commitments outside of Boeing.
Ride hailing app Uber Technologies was ahead 0.36%, after controversial co-founder and ex-chief executive Travis Kalanick said he would exit the board on 31 December.
Wall Street markets will remain closed on Wednesday for Christmas Day, before resuming ordinary activities on Thursday.
Dow Jones - Risers
Home Depot Inc. (HD) $220.67 0.67%
Walt Disney Co. (DIS) $145.29 0.42%
Walmart Inc. (WMT) $119.51 0.40%
Goldman Sachs Group Inc. (GS) $229.91 0.36%
Intel Corp. (INTC) $59.41 0.30%
JP Morgan Chase & Co. (JPM) $137.58 0.28%
Visa Inc. (V) $187.57 0.26%
Procter & Gamble Co. (PG) $125.22 0.26%
McDonald's Corp. (MCD) $196.67 0.24%
American Express Co. (AXP) $124.74 0.20%
Dow Jones - Fallers
Boeing Co. (BA) $333.00 -1.35%
3M Co. (MMM) $176.68 -1.00%
Caterpillar Inc. (CAT) $147.48 -0.69%
Cisco Systems Inc. (CSCO) $47.78 -0.67%
International Business Machines Corporation (CDI) (IBM) $134.98 -0.42%
Exxon Mobil Corp. (XOM) $70.02 -0.38%
Walgreens Boots Alliance, Inc. (WBA) $58.35 -0.38%
Coca-Cola Co. (KO) $54.71 -0.36%
Johnson & Johnson (JNJ) $145.93 -0.35%
Merck & Co. Inc. (MRK) $91.44 -0.33%
S&P 500 - Risers
Advanced Micro Devices Inc. (AMD) $46.54 2.38%
Nektar Therapeutics (NKTR) $22.33 2.20%
Lennar Corp. Class A (LEN) $56.79 2.07%
Skyworks Solutions Inc. (SWKS) $122.16 1.77%
Vulcan Materials Co. (VMC) $142.65 1.63%
Tractor Supply Company (TSCO) $93.56 1.54%
Take-Two Interactive Software Inc. (TTWO) $123.93 1.48%
Incyte Corp. (INCY) $91.43 1.41%
Macerich Co (MAC) $26.37 1.31%
Diamondback Energy Inc. (FANG) $90.18 1.29%
S&P 500 - Fallers
Fluor Corp. (FLR) $18.47 -4.20%
Altria Group Inc. (MO) $50.28 -2.46%
Invesco Ltd. (IVZ) $17.79 -2.15%
Seagate Technology Plc (STX) $59.49 -1.46%
Apache Corp. (APA) $26.17 -1.36%
Boeing Co. (BA) $333.00 -1.35%
Helmerich & Payne Inc. (HP) $44.84 -1.30%
Tapestry Inc. (TPR) $26.74 -1.29%
Synopsys Inc. (SNPS) $138.21 -1.22%
Rollins Inc. (ROL) $32.98 -1.20%
Nasdaq 100 - Risers
Skyworks Solutions Inc. (SWKS) $122.16 1.77%
Take-Two Interactive Software Inc. (TTWO) $123.93 1.48%
Tesla Inc (TSLA) $425.25 1.44%
Incyte Corp. (INCY) $91.43 1.41%
Qurate Retail Inc. (QRTEA) $8.24 1.23%
Comcast Corp. (CMCSA) $44.53 0.98%
Dollar Tree Inc (DLTR) $93.23 0.85%
Biogen Inc (BIIB) $304.07 0.83%
Ross Stores Inc. (ROST) $115.12 0.81%
Expedia Group Inc. (EXPE) $108.77 0.71%
Nasdaq 100 - Fallers
Seagate Technology Plc (STX) $59.49 -1.46%
Synopsys Inc. (SNPS) $138.21 -1.22%
NetEase Inc. Ads (NTES) $300.87 -0.82%
Cintas Corp. (CTAS) $268.81 -0.76%
Western Digital Corp. (WDC) $62.23 -0.75%
Intuit Inc. (INTU) $264.33 -0.73%
Cadence Design Systems Inc. (CDNS) $69.65 -0.70%
Cisco Systems Inc. (CSCO) $47.78 -0.67%
Wynn Resorts Ltd. (WYNN) $139.44 -0.56%
Trip.com Group Limited (TCOM) $34.47 -0.55%