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S&P inches higher after Trump trade remarks

Credit: Reuters Studio
Published on November 12, 2019 - Duration: 01:17s

S&P inches higher after Trump trade remarks

The benchmark S&P 500 stock index eked out a slim gain on Tuesday as President Donald Trump said the United States is close to signing an initial trade deal with China but offered no new details about negotiations.

Yahaira Jacquez reports.

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S&P inches higher after Trump trade remarks

The S&P 500 and Nasdaq made small gains Tuesday.

With the Nasdaq closing at a record high, while the Dow ended the day unchanged.

Investors closely watched a lunchtime address by the U.S. President at the Economic Club of New York.

While he said the U.S. was close to signing an initial trade deal, he gave no new details about negotiations.

Kevin Nicholson of Riverfront Investment Group: (SOUNDBITE) (ENGLISH) KEVIN NICHOLSON OF RIVERFRONT INVESTMENT GROUP SAYING: "The market was trying to wait and see what the president said and if he didn't say anything that was going to hurt the idea of having a trade deal, then I think the market was fine just hanging out where it was." Most S&P sectors finished in positive territory - with healthcare making the most gains.

Real estate was the worst performer.

Among stocks, Disney rose as the company said demand for its streaming service, Disney+, was well above its expectations.

So much so - that it caused a glitch.

Meanwhile shares of CBS dropped more than 3 percent after the media giant reported earnings that missed revenue expectations.

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