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US-STOCKS-MARKETS
US stocks edge lower amid questions on trade talks
NEW YORK, March 6, 2019 (BSS/AFP) – Wall Street stocks finished slightly
lower Tuesday following a meandering session as investors sought signs on US-
China trade talks and the US economic outlook.
The Dow Jones Industrial Average lost 0.1 percent to close the session at
25,806.63.
The broad-based S&P 500 also shed 0.1 percent to end at 2,789.65, while
the tech-rich Nasdaq Composite Index slipped less than 0.1 percent to
7,576.36.
After a strong start to 2019, US stocks have been steady but unspectacular
the last two weeks as Beijing and Washington have appeared to be inching
towards a deal to resolve their trade friction.
After the initial optimism, analysts on Tuesday took a more cautious view
of the progress in the tariff battle, with some arguing that the gains
already have been figured into valuations or questioning whether an agreement
will truly resolve the impasse.
Meanwhile, the Institute for Supply Management reported that US services
sector activity jumped in February, but the report came on the heels of other
data that suggest the US economy is slowing.
“The market is trying to react to a mixed bag of things,” said Art Hogan,
chief market strategist at National. “How much is priced in in terms of good
news in China trade and just how much is the economy slowing domestically.”
Among individual companies, retailer Target gained 4.6 percent after
reporting a solid 5.3 percent increase in comparable sales over the holiday-
centered fourth quarter.
Another retailer, Kohl’s, shot up 7.3 percent after fourth-quarter
comparable sales topped analyst expectations.
General Electric dropped 4.7 percent as Chief Executive Larry Culp
signaled that the company will continue to face near-term cash flow
challenges due to its slumping power business.
BSS/AFP/HR/0955