Midday Update: Stocks Climb Ahead of Trump Signing Interim Trade Deal With China

Wednesday, January 15, 2020 12:32 PM | MT Newswires

Major US stock market indexes were higher at midday Wednesday as President Donald Trump prepared to sign a phase-one trade agreement with China.

The Dow Jones Industrial Average was up 0.5% while the S&P 500 was up 0.4%. The health care and utilities sectors were posting the biggest gains in the S&P 500. The Nasdaq Composite Index was up 0.5%.

Trump was speaking at a White House ceremony early Wednesday afternoon.

In company news, shares of Target (TGT) tumbled 7% after the retailer lowered its comparable-sales growth expectations following weak holiday sales. Investors are also turning their attention to corporate earnings.

In commodities, West Texas Intermediate crude oil futures fell 0.4% to $57.98 per barrel. Natural gas was down 2.2% to $2.14 per 1 million BTU. Gold futures were up 0.4% to $1,550.60 an ounce, while silver was up 1.2% to $17.95 an ounce.

Among energy ETFs, the United States Oil Fund was down 1% to $12.18 while the United States Natural Gas Fund was down 2% to $16.53. Among precious-metal funds, the Vectors Gold Miners ETF was up 0.3% to $28.35 while SPDR Gold Shares were up 0.2% to $146.02. The iShares Silver Trust was up 0.9% to $16.76.

Here's where the markets stood at midday:


NYSE Composite Index was up 44.19 points (+0.3%) to 14,081.32

Dow Jones Industrial Average was up 149.93 points (+0.5%) to 29,089.60

S&P 500 was up 13.52 points (+0.4%) to 3,296.67

Nasdaq Composite Index was up 44.15 points (+0.5%) to 9,295.48


FTSE 100 was up 20.45 points (+0.3%) to 7,642.80

DAX was down 24.19 (-0.2%) to 13,432.30

CAC 40 was down 8.28 (-0.1%) to 6,032.61

Nikkei 225 was down 108.59 (-0.5%) to 23,916.58

Hang Seng Index was down 111.55 points (-0.4%) to 28,773.59

Shanghai China Composite Index was down 16.78 points (-0.5%) to 3,090.04


NYSE Energy Sector Index was down 64.33 (-0.6%) to 9,962.83

NYSE Financial Sector Index was down 3.81 points (-0.04%) to 8,717.62

NYSE Healthcare Sector Index was up 206.63 points (+1.1%) to 18,440.66


(+) CLVS (+13%) Says Rubraca wins FDA priority review for advanced prostate cancer

(+) NVCN (+4%) Receives FDA OK for pre-market approval application for "reducer" device

(+) POPE (+35%) Agrees to be bought by Rayonier


(-) BYND (-7%) Reportedly considering entry into China market in 2020

(-) NKTR (-17%) Withdraws NDA for chronic pain treatment

(-) FSLR (-9%) Barclays downgrades shares to underweight from overweight, price target cut to $49 from $66

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