Share market news were mainly mixed on Tuesday as various events preceded the market’s session.
The Dow Jones Industrial Average gained 14.92 points, or 0.1%, to trade at 26,949.99. Meanwhile, the S&P 500 barely moved, only losing 0.01% to trade at 2991.77. The NASDAQ Composite Index, on the other hand, lost 0.1% to 8112.46.
The Dow’s upward move signals some sort of stabilization after Friday’s losses. Last week, stock exchanges slipped on fears of unprogressive trade talks.
More recently, though, the Dow benefitted more after IHS Markit data showed US activity rose to a five-month high.
The robust data squashed some concerns about the US possibly falling into a recession. New York Fed President John Williams said they were working to fix some turmoil in bank lending markets.
For specific stocks, markets saw American Express shares gain 1.2% after it raised its dividend. It also said it would buy back 120 million of its shares.
Netflix underperformed, dropping 1.8%. It’s not trading in the red for the year.
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Investors will be focusing on a bunch of headlines this week.
The first among such are two key economic reports, which investors will search for hints over the future of the economy. Traders will be looking for further recession signals.
Meanwhile, Nike, a shoe manufacturing giant, will release its earnings report later in the day. According to estimates, its earnings clock in at 71 cents a share for the last quarter. That’s 6.9% higher from a year earlier.
The stronger dollar weighs the company’s overseas sales, the analysts said. The company, therefore, will keep its full-year fiscal 2020 earnings projections the same.
So far this year, Nike’s shares are 18% higher.
On top of those, US President Donald Trump will address the United Nations General Assembly. The Chinese delegation will be sitting in the same room as the POTUS for the first time since last month.