More trade talk stalls markets

 

Stocks are down at mid-day Tuesday as investors try to make heads or tails of the supposed trade deal President Trump made with Chinese President Xi Jinping. What seemed like positive news is now under reconsideration as exact figures regarding additional tariffs, additional talks, timetables, tariff removals, and agreements that China is to purchase unknown quantities of things comes into question. While the seemingly good news was able to boost the market yesterday, benchmark indices such as the S&P 500 (SPY) are stalling out as they encounter technical resistance following an extended upswing, and lack of clear definition in the ongoing trade war.

At present, the S&P 500 is down 0.79%, the DJIA is down 0.79%, and the NASDAQ is down 0.87%.

Industries doing well today include Multi-Utilities, Household Products, and Tobacco. Industries showing weakness include Air Freight & Logistics, Construction & Engineering, and Airlines. The VIX is up 0.02 to 16.46 after the previous close of 16.44. The total put/call ratio as of 10:00 AM was 0.81 (228,043/279,810). The advancers/decliners ratio for NYSE stocks is 858/2,055 while the advancers/decliners ratio for NASDAQ stocks is 937/2,049.

[InvestorsKeyhole, various news and data sources]

Symbols: SPY

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