Stocks Betray Nerves over Tariff Delay
Stocks fell on Tuesday as investors were skeptical of news that the U.S. could postpone the implementation of additional levies on Chinese goods.
The Dow Jones Industrials lost 12.85 points to 27,896.75.
The S&P 500 edged higher 0.09 points to 3,136.35
The NASDAQ recovered 14.17 points to 8,636.79
Dave & Buster’s, Designer Brands and AutoZone are among the firms reporting earnings Tuesday.
The Wall Street Journal first reported the U.S. plans to delay slapping China with additional tariffs as both sides try to work out a so-called phase one trade deal. A deadline for the two countries had been set for Dec. 15. If an agreement wasn’t reached by then, the new U.S. tariffs would take effect.
Investors also kept an eye on the Federal Reserve as the central bank kicks off its last two-day monetary policy meeting of the year. The Fed is expected to hold rates steady.
Prices for the 10-Year U.S. Treasury lost ground, raising yields to 1.85% from Monday’s 1.83%. Treasury prices and yields move in opposite directions.
Oil prices nicked up 10 cents at $59.12 U.S. a barrel.
Gold prices improved $4.20 at $1,469.10 U.S. an ounce.