Here Are 3 Hot Things to Know About Stocks Right Now
- Stocks ended mixed Tuesday after President Trump in a speech touched on the U.S.-China trade war and the Federal Reserve. The Nasdaq closed at a record while the Dow ended flat.
- Disney (DIS) - Get Report climbed after the entertainment company's Disney+ streaming service went live.
- CBS (CBS) - Get Report fell even after posting stronger-than-expected third-quarter earnings in its final stand-alone report before the completion of its $30 billion merger with Viacom (VIAB) - Get Report . CBS is Real Money's Stock of the Day.
Wall Street Overview
Stocks ended mixed Tuesday after President Donald Trump in a speech touched on the U.S.-China trade war and the Federal Reserve. The S&P 500 and the Nasdaq reached intraday highs earlier in the session.
The Dow Jones Industrial Average, which closed at an all-time high Monday, ended Tuesday exactly where it started, at 27,691.49. The S&P 500 rose 0.16%. The Nasdaq closed at a record high, up 0.26% to 8,486.09.
was up 0.13%.
Exxon Mobil (XOM) - Get Report , Caterpillar (CAT) - Get Report and Boeing (BA) - Get Report weighed on the Dow while Disney, Merck (MRK) - Get Report and Walgreens Boots Alliance (WBA) - Get Report saw gains.
Trump addressed the
in Manhattan where he renewed his attacks on the Federal Reserve and once again said the U.S. was "very close" to making a trade deal with China.
The president said that no one had manipulated the U.S. more than China, while adding that no one has cheated more than China.
"They are dying to make a deal. We're close. A significant 'phase one' trade deal with China could happen soon," Trump said. "The theft of American jobs and American wealth is over, they understand that."
Trump also complained about the U.S. central bank, saying the U.S. was "actively competing with nations who openly cut interest rates" below zero. The Fed cut interest rates last month for the third time this year.
Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, said that ultimately Trump's "scripted remarks were similar to campaign stump speeches he's given in the past, but in more detail and with a slightly more data-driven and economic-tilt that befits the audience he was speaking to."
"What was missing were details about progress on phase one of the trade deal with China or the status of auto tariffs which may be placed on imports from the European Union," Zaccarelli said. "He mentioned that the 'China deal could happen soon,' but he's said exactly the same thing in the past, so that wasn't anything new."
CBS (CBS) - Get Report slipped 3.6% to $37.76 even after the media giant posted stronger-than-expected third quarter earnings in its final stand-alone report before its $30 billion December merger with Viacom (VIAB) - Get Report . CBS is Real Money's Stock of the Day.
was higher, rising 3.1% to $54.27 after the
reported better-than-expected fiscal fourth-quarter earnings.
Tyson Foods (TSN) - Get Report rose 7.4% to $88.88 after the company missed Wall Street's earnings and revenue expectations, following a fire at a Kansas slaughterhouse that hurt sales volumes in its beef business.