US stocks pare gains as Trump fails to lift market sentiment

Tuesday, 12. November 2019 22:00

US equities let go of most of the gains as the session ended on Tuesday after President Donald Trump failed to brighten investor sentiment with the speech he gave at the New York Economic Club earlier in the day. Addressing the attendees, Trump hailed the progress made during his time in office and threatened to raise tariffs further if no deal is made, but once again offered no tangible information regarding the trade accord between two of the world's largest economies.

Hours later, his economic adviser Larry Kudlow followed in his footsteps and refused to give any new details on the trade talks, apart from claiming that the deal would be struck "soon."

The Dow Jones closed flat. The S&P 500 and the ​Nasdaq 100 added 0.16% and 0.27% at the closing bell, respectively, but failed to keep fresh all-time highs reached earlier in the session. Autodesk led the gains on the tech-heavy index, while the S&P 500 was propped up by DXC Technology whose shares skyrocketed nearly 20% despite the second-quarter earnings report missing market estimates.

The euro lost 0.21% against the US currency, buying 1.10095 at 4:00 pm ET.

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Breaking the News / GG