Mixed closed for US stocks amid corporate earnings, trade issues
ISTANBUL
The New York Stock Exchange ended Tuesday in mixed territory, as major US companies reported earnings and US President Donald Trump gave mixed signals about his upcoming meeting with his Chinese counterpart Xi Jinping.
The Dow added 0.47%, or 218.16 points, to close at 46,924.74.
On the other hand, the S&P 500 was relatively flat at 6,735.35 points, while the Nasdaq fell 0.16%, or 36.88 points, to close at 22,953.67.
General Motors exceeded market expectations, and the company raised its profit forecast for the year. Its shares gained 14.9%.
Coca-Cola’s shares rose 4.1% after announcing better-than-expected third-quarter earnings and revenue; 3M, a major industrial company, also raised its annual profit forecast, gaining 7.7%.
Philip Morris, despite revising its annual profit forecast upwards, saw shares fall 3.8%.
In the defense sector, Lockheed Martin, RTX and GE Aerospace raised their year-end profit forecasts. Lockheed Martin’s shares fell 3.2%, while RTX and GE Aerospace gained 7.7% and 1.3%, respectively.
A budget issue has caused the US government to remain shuttered since Oct. 1. In an 11th vote Tuesday, the Senate rejected the interim budget package. Wednesday is anticipated to be the next vote.
On the trade front, Trump sent mixed signals about planned talks between Washington and Beijing, with the participation of Xi.
Trump, who said he would meet Xi in South Korea within two weeks, stated that “maybe it won’t happen.”
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