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BUSINESS Tuesday 19 November 2019
A25

S&P 500 hangs close to record as stocks churn

By STAN CHOE fensive stocks more attrac-
DAMIAN J. TROISE tive. The yield on the 10-
Associated Press year Treasury fell to 1.80%
NEW YORK (AP) — U.S. from 1.83% late Friday.
stock indexes hung close to HOO AH: Technology stocks
their record levels in after- also rallied after the Com-
noon trading on Monday, merce Department gave
as markets wait for the next another 90-day extension
development in trade talks for Chinese tech giant Hua-
between the United States wei to continue doing busi-
and China. ness with U.S. companies.
All three major indexes Nvidia bolted to the big-
were nearly unchanged gest gain in the S&P 500, up
from where they finished 4.3%, and Advanced Micro
Friday, but the seeming- Devices rose 2.6%.
ly placid moves masked WEEK AHEAD: Several big
plenty of churn going on retailers will report their re-
underneath. The S&P 500 sults for the summer this
was split nearly evenly be- week and close out the lat-
tween winners and losers, est earnings season. More
and strength for technolo- than 90% of companies in
gy and media stocks made the S&P 500 have reported
up for sharp losses by oil This Aug. 23, 2019, file photo shows the New York Stock Exchange in New York. their latest earnings.
producers. Associated Press Home improvement retail-
The market has been on a nationwide protests. and losses through the day to $62.16 per barrel, and er Home Depot will report
tear since early October, The two sides are continu- and was down 0.3% shortly natural gas lost 3.5% to results on Tuesday. Target
and indexes have set all- ing to negotiate, with stock after trading began. $2.59 per 1,000 cubic feet. and Lowe’s will report re-
time highs as worries about markets around the world The Dow Jones Industrial GUARDING THE GAINS: The sults on Wednesday. Ma-
a possible recession faded. swinging on every hint of Average rose 32 points, or day’s strongest stocks were cy’s and Gap will release
The gains have been not progress or tension. 0.1%, to 28,037. The Nasdaq in areas of the market that their earnings on Thursday.
only strong but also nearly “Things are somewhat added 0.1%. The Russell tend to pay big dividends Investors will get a more de-
uninterrupted, bolstered stable right now, which is 2000 index of smaller com- and hold up even when tailed look at the Federal
by solid economic data, really crazy when I think pany stocks fell 0.3%. the economy is slowing. Reserve’s latest decision to
better corporate earnings about the geopolitical is- CHURNING: The modest Real-estate stocks in the cut interest rates when the
than analysts expected sues going on abroad gains for market indexes S&P 500 rose 0.8%, for ex- central bank releases min-
and interest-rate cuts by and in the U.S.,” said Mike mask how much move- ample, while utilities and utes from its October meet-
the Federal Reserve. Loewengart, vice president ment was going on under- companies that make ev- ing on Wednesday.
That leaves negotiations in of investment strategy at neath. eryday goods for house- KEEPING UP: CoverGirl own-
the U.S.-China trade war as E-Trade Financial. “But we Energy stocks in the S&P holds both rose 0.7%. er Coty rose 1.5% after buy-
the remaining wild card for caution investors to have 500 sank 1.7% for the larg- These kinds of stocks are ing a majority of reality TV
the market. President Don- reasonable expectations est loss by far among the 11 known as “defensive” in- Star Kylie Jenner’s beauty
ald Trump hoped to have for additional gains going sectors that make up the vestments, and they had business.
signed the first phase of a forward: Hope for the best, index. Chevron dropped begun to lag the market Jenner is part of the “Keep-
trade deal by now, at a but be mindful that we 1.7%, and ConocoPhillips in recent weeks as interest ing Up with the Kardashi-
major international summit could see an uptick in vola- sank 3.1% as prices of oil rose in companies whose ans” reality show family.
that was scheduled for this tility at any time.” and natural gas fell. profits can rise more quickly She founded Kylie Cosmet-
past weekend. But the pres- KEEPING SCORE: The S&P Benchmark U.S. crude lost in a healthy economy. ics in 2015, relying on her
ident of the summit’s host 500 index was up 0.1% as $1 to $56.72 per barrel. But a drop in Treasury yields hundreds of millions of so-
nation, Chile, canceled the of 2:15 p.m. Eastern time. It Brent crude, the interna- Monday may have made cial media followers to pro-
meeting last month amid drifted between small gains tional standard, sank $1.14 the dividends paid by de- mote the brand.q