Major U.S. stock market indices ended the trading day mixed as market participants weigh the future of trade between China and the U.S. Despite a partial trade deal being reached and scheduled to be signed tomorrow, the Trump administration announced on Tuesday that U.S. tariffs on Chinese goods will remain in place at least until after the 2020 presidential election in the U.S. According to Bloomberg, any reduction to tariffs will be dependent on China's compliance to the trade deal.
Here's how the market closed Tuesday:
S&P 500 Index (SPY ): -0.15% or -5.01 points to 3,283.12
Dow Jones Industrial Average (DIA ): +0.11% or +32.15 points to 28,939.20
Nasdaq Composite Index (QQQ ): -0.24% or -22.60 points to 9,251.33
In Major Stock News, Amazon (AMZN ) announced Tuesday that third-party seller would be able to ship through FedEx (FDX ) Ground for Prime shipments again. However, Amazon will continue to not use FedEx for the company's own deliveries. Boeing (BA ) posted its worst annual net orders in 11 years Tuesday. Delta Air Lines (DAL ) jumped 3.3% after the company beat expectations for its Q4. Pinterest (PINS ) increased almost 10% after a report that the platform surpassed Snapchat (SNAP ) as the third-biggest social-media platform in the U.S. in 2019. SmileDirectClub (SDC ) had a resurgence after that company announced that it will offer its products at dentist and orthodontist offices. Tesla (TSLA ) pushed to a new all-time high after Jefferies (JEF ) and Deutsche Bank (DB ) become bullish towards the stock's future. Big bank stocks like Citigroup (C ) and J.P. Morgan (JPM ) rallied after beating expectations, while Wells Fargo (WFC ) declined after lackluster Q4 results.
In Stock Sector News, sectors had a mixed performance day. Industrials had a large upward surge of +11.73%, and other sectors that positively increased on Tuesday include Health Care +0.55%, Utilities +0.28%, Consumer Staples +0.02% and Energy remained unchanged. The rest that had negative performance Tuesday were Information Technology -0.60%, Real Estate -0.49%, Materials -0.39%, Communication Services -0.30%, Financials -0.24% and Consumer Discretionary -0.12%.
Lastly, in Commodity and Currency News, crude oil barrel prices had a slight upward swing Tuesday ahead of the U.S-China trade signing. West Texas Intermediate (USO ) edged +0.02% and Brent Crude (BNO ) increased almost +0.40%. Gold (GLD ) also grew ahead of the trade signature, with the metal's price increasing over +0.20%. Finally, the U.S. Dollar bumped into the positive territory, with the DXY Index gaining +0.01%.
