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Dow Rises as Wall Street Likes Progress in U.S.-China Trade Talks




Stocks rose Tuesday, Dec. 11, as investors reacted to progress in US-China trade talks but remained jittery about the ongoing political chaos surrounding Britain's Brexit vote.

The Dow Jones Industrial Average Rose 110 points, or 0.45%, to 24.533, the S & P 500 gained 0.73 %, and the Nasdaq was up 0.9%.

China's chief trade negotiator, Liu He, spoke with US Treasury Secretary Steve Mnuchin and Trade Representative Robert Lighthizer by phone Monday night, China's Commerce Ministry said in a statement, and agreed to work towards the framework of talks seen during the G20 leaders' summit in Argentina.

"Both sides exchanged views on putting into effect the consensus reached by the two countries' leaders at their meeting, and pushing forward the timetable and road map for the next stage of economic and trade consultation work, "said the minister.

Donald Trump said in a Tweet on Tuesday that conversations with China were "very productive."

Very productive conversations going on with China! Watch for some important announcements!

̵[ads1]1; Donald J. Trump (@realDonaldTrump) December 11, 2018

Meanwhile, U.K. Prime Minister Theresa May was left fighting for her political life Tuesday as she began a series of 11th-hour pleas to EU leaders for further assurances on a Brexit deal that has little support at home and little desire from change from Brussels. May call off a key parliamentary vote on Brexit, which was scheduled for Tuesday because she knew the deal would have been rejected.

Producentprisindekset for november steg 0,1%, topping economists estimater, der krævede ingen ændring i engrosinflationen. Core PPI, which strips out food and energy costs, rose 0.3%.

Verizon Communications Inc. (VZ) announced Tuesday that the cost of its employee buyout plan will range between $ 1.8 billion and $ 2.1 billion and will be recorded in the fourth quarter. In addition, Verizon said it would record a goodwill impairment charge of $ 4.6 billion at Oath, the company's media business, following a review of the operation.

Shares of Verizon rose 1.5%.

Pfizer Inc. (PFE) shares fell 1.1% to $ 43.90 on Tuesday after analysts that JPMorgan lowered their rating on the drug maker in terms of concerns about the loss of exclusivity on one of its key pain treatments.

Under Armor Inc. UAA) rose 0.3% after it ousted two sports marketing executives who were long-time associates or CEO Kevin Plank, The Wall Street Journal reported, after the apparel brand conducted an internal review of their department's spending.

Ryan Kuehl, senior vice president of global sports marketing, and Walker Jones, senior director of sports marketing, were both removed from their roles last week, people familiar with the matter told the Journal. Management questioned the way the two had been running the sports marketing department and whether some of their spending was appropriate, some of the people told the Journal.

Stitch Fix Inc. (SFIX) tumbled 25.1% on Tuesday after its client growth disappointed Wall Street.

Stitch Fix said it had 2.9 million active clients in its fiscal first quarter using its subscription clothing services, an increase of 22%, but below analysts' forecasts of 2.95 million.

DSW Inc. (DSW) sprong 7,1% efter skoenforhandlerens regnskabsårets tredje kvartals resultat, som toppede prognoser og selskabet lifted guidance for the full year.



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