Investing.com – The Dow fell Tuesday as gains in consumer discretionary shares and expectations of the Federal Reserve to continue its pledge to keep price increases on hold was offset by reports of souring US-China trade negotiations.
Fallen 0.24%, lost 0.01%, while rose 0.12%.
Signs of distrust between the US and China poured cold water on the expectation that a trade agreement would be packaged earlier than later, leading to sales across trading-sensitive sectors such as industry and materials.
Some US officials fear that China is unable to respect certain trade concessions, Bloomberg reported Tuesday afternoon.
The report came as a summit between the United States and China before it is expected to take place this month to conclude that a trade agreement was postponed to April, with Beijing eventually addressing the issue of Washington's claim for a one-sided enforcement framework.
Washington has claimed that an enforcement framework is needed to ensure that Beijing meets any terms of a trade agreement or risk penalty to exit the line.
Beyond trade, consumer provides discretionary and healthcare benefits to the broad market led by L Brands (NYSE 🙂 and Cigna (NYSE:).
Investor's expectations for Federal Reverse to deliver a dew on monetary policy on Wednesday are also downward in the broader averages.
The central bank's promise to keep monetary-policy tightening on hold has been one of the main drivers for rebound in equities after sharp fluctuations lower towards the end of the last year.
Tech also showed a bright spot, albeit with modest gains offered, thanks to strong gains from chip stocks led by AMD.
Advanced Micro Devices rallied 1
"We continue to be impressed by AMD's progress by using innovative e-approaches to expand its markets across all segments," Moore added.
Among other chipmakers, NVIDIA (NASDAQ 🙂 rose 4% and Micron Technology Inc (NASDAQ 🙂 increased 1.9%. Micron will report revenue on Wednesday after the market closes.
In other company news, Google presented a new streaming gaming service among the pressures of the $ 140 billion gaming industry. The tech giant will compete with Sony, Microsoft (NASDAQ 🙂 and possibly Amazon (NASDAQ :), who allegedly work on a similar service.
On the economic side, US factory orders were unchanged from last month, growing only 0.1% in January, lacking economists' expectations of an increase of 0.3%.
Top S & P 500 Gainers and losers today:
Advanced Micro Devices (NASDAQ :), NVIDIA Corporation (NASDAQ 🙂 and DaVita HealthCare (NYSE 🙂 were among the best S&P 500 winners for the session.
2100's Fox Inc (NASDAQ 🙂 A (NASDAQ :), Monster Beverage (NASDAQ 🙂 and JB Hunt Transport Services Inc (NASDAQ 🙂 were among the worst S&P 500 practitioners of the session.
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