Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average rose 1.4% on Monday, putting an end to a losing streak of four consecutive sessions.
- The Dow fell 166 points at its low Tuesday, putting the index briefly in negative territory for the year.
- The Nasdaq was higher for a third straight day.
Wall Street Overview
Stocks finished slightly higher on Tuesday, March 6.
The Dow was up 9 points, or 0.04%. The S&P 500 rose 0.26% and the Nasdaq closed up 0.56%.
Stocks moved between gains and losses on Tuesday amid optimism over reports that said North Korea was willing to accept denuclearization if Kim Jong Un's regime could be guaranteed safety and as Wall Street weighed the possibility of a global trade war.
Reports Tuesday said the North Korean leader agreed to meet with South Korea's president next month and impose a moratorium on nuclear and missile tests if his country holds talks with the U.S., a senior South Korean official said.
Donald Trump's plan to impose tariffs on steel and aluminum imports received push-back from House Speaker Paul Ryan, who said in a statement that he was "extremely worried" about the consequences of a global trade war and urged the White House "to not advance with this plan."
In addition, Bloomberg reported the European Union has proposed a retaliatory 25% tariff against U.S. steel imports, blue jeans, t-shirts and Harley Davidson Inc. (HOG) motorcycles that would collectively hit more than €2.8 billion ($3.5 billion) worth of American goods.
Target Corp. (TGT) earned an adjusted $1.37 a share in its fourth quarter, in line with analysts' estimates. Revenue was $22.8 billion vs. estimates of $22.53 billion. Same-store sales rose 3.6%.
Nordstrom Inc. (JWN) said its board rejected the Nordstrom family's proposal to take the company private at $50 a share, which would value the department store operator at about $8.3 billion.
Nordstrom shares rose 1.1% on Tuesday.SMFKY) said Tuesday that it rejected a takeover approach from International Paper Co. ( IP) , saying the unsolicited bid for Europe's biggest maker of packaging materials fails to reflect its value or growth prospects.
Shares of J.M. Smucker Co. (SJM) fell 0.3% after the Federal Trade Commission said it was challenging Smucker's $285 million offer for the Wesson cooking oil brand owned by Conagra Brands Inc. (CAG) .
3M Co. (MMM) said Chief Operating Officer Michael Roman has been named CEO of the St. Paul, Minnesota-based company. Inge Thulin, who was named CEO of 3M in 2012, was named to the newly created position of executive chairman. The stock rose 0.36%.
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