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Home / Business / Stock Market News: November 18, 2019

Stock Market News: November 18, 2019



The S&P 500 and the Dow were slightly positive in the middle of Monday morning as investors considered mixed signals of progress in a US-China interim trade agreement.

Here were the key moves in the markets, as of 11:50 AM ET:

  • S&P 500 ( ^ GSPC ) : + 0.01%, or 0.46 points [19659006] Dow ( ^ DJI ) : + 0.06%, or 16.62 points

  • Nasdaq ( ^ IXIC ) : -0.04% , or 3.21 points

  • 10-year Treasury Rate ( ^ TNX ): -2.7 bps to 1.807%

  • Gold ( GC = F ) : + 0.23% to $ 1,471.90 per ounce

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – cm Mt (0.8 cm ) – sm "type =" text "content =" US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke with Chinese Deputy Prime Minister Liu He over the weekend to find out details of a phase one trade agreement between the two countries, according to the & nbsp ; Chinese state news agency Xinhua. "data-reactid =" 23 "> US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke with Chinese Deputy Prime Minister Liu He this weekend to find out details of a phase one trade agreement between the two countries, according to Chinese state-run news agency Xinhua.

The two sides had "constructive discussions about each other's core issues in the" phase one "agreement, and agreed to maintain close communication," according to the account.

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "The Chinese account of the conversations contributed to However, later in the night, futures gains increased after CNBC reported Beijing was "pessimistic" that a phase-out deal would be made given President Donald Trump's reluctance to roll back existing tariffs on Chinese imports, according to a report citing an unnamed government source. "data-reactid =" 25 "> The Chinese account of the talks originally helped send futures higher. Later that night, however, futures increased after CNBC reported that Beijing was "pessimistic" that a phase-out deal would be made given President Donald Trump's reluctance to roll back existing tariffs on Chinese imports, according to a report citing a named source of government.

Separately, a surprise reduction to short-term financing rates in China also bent risk overheads as investors considered the fresh stimulus injected into the world's second-largest economy to help boost growth by encouraging loans and lending. on the floor of the New York Stock Exchange (NYSE) in New York, USA, November 4, 2019. REUTERS / Brendan McDermid "class =" JsEnabled_Op (0) JsEnabled_Bg (n) Trsdu (.42s) Bgr (no) Bgz (cv) StretchedBox W (100%) H (100%) ie-7_H (a) "itemprop =" url "style =" background-image: url (https://s.yimg.com/ny/api/res/1.2/ sJB.Z9xkk.dV0CcquTlrOQ– ~ A / YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9ODAw / https: //media-mbst-pub-ue1.s3.amazonaws.com/creatr-images/2019-11/9ef891e0-0249-11ea-a27b-e0da2a61e815); " src = "https://s.yimg.com/g/images/spaceball.gif" data-reactid = "31" />

Traders working on the floor of the New York Stock Exchange (NYSE) in New York, USA, November 4, 2019. REUTERS / Brendan McDermid

<p class = "canvas-an empty canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "People's Bank of China reduced the central seven-day-long tilbakek jump rate to 2.50% from 2.55% previously, marking the first cut to the closely followed borrowing rate of four years. The move comes as China's & nbsp; seizes with a growth rate that stops up to a 30-year low with trade considerations and cooling investments in the country weighing on economic expansion. "Data-reactid =" 38 "> The People's Bank of China reduced the central seven-day reverse repo rate to 2.50% from 2.55% previously, marking the first cut to the closely monitored borrowing rate in four years. grips with a growth rate that stops up to 30 years low, with trade considerations and cooling investments in the country weighing on economic expansion.

"For markets, this cut is as much about proving that PBOC remains accommodating, with additional relief likely in the case continued weak growth, "IG Group senior market analyst Joshua Mahony wrote in an email.

<h2 class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" STOCKS: Saudi Aramco IPO, HP rejects Xerox takeover bid "data-reactid =" 40 "> STOCKS: Saudi Aramco IPO, HP rejects Xerox takeover bid [19659026] <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Saudi-Aramco oil monolith is estimated to be valued at between $ 1.6 trillion to $ 1.7 trillion after the first public offer , based on details of the offer in a corporate statement over the weekend. "data-reactid =" 41 "> Saudi Aramco oil monolith is estimated to be valued at between $ 1.6 trillion to $ 1.7 trillion after the first public offer, based on details of the offer in a company statement over the weekend.

Saudi Aramco, the world's most profitable company, intends to price the offer between 30-32 Saudi royals and sell a 1.5% stake in the company, or around 3 billion shares. to take place in December on the Taduwal Stock Exchange, and Saudi Aramco has said it will sell up to 0.5% of its shares to individual investors.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" HP ( HPQ ) rejected a proposed takeover bid from hardware company printing Xerox ( XRX ), & nbsp; who wrote in an open letter & nbsp; Over the weekend that latter $ 33.5 billion in cash and stock offerings "appreciated" the company significantly. HP's market valuation is more than three times higher than that of Xerox, and HP's board of directors said an overall company would be left with "excessive debt" and would not be in "shareholders' best interests." "data-reactid =" 43 "> HP ( HPQ ) rejected a proposed takeover offer from printing firm hardware Xerox (XRX), and wrote in an open letter over the weekend that the latter $ 33.5 billion in cash and shares offer "substantial" company. HP's market valuation is more than three times that of Xerox, and HP's board said a combined company would be left with "excessive debt" and would not be in "interests"

In the letter, however, HP suggested that it would consider a transaction that would involve the acquirer of Xerox, noting that it "could quickly assess the benefits of a potential transaction."

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = " T-Mobile ( TMUS [19659029]) announced on Monday that Mike Sievert, currently CEO, will take over as CEO As of May 1, 2020, the company said in a statement. Sievert is set to replace John Legere, whose contract with the telecommunications company ends April 30, 2020. "data-reactid =" 45 "> T-Mobile ( TMUS ) announced Monday that Mike Sievert, currently CEO, will take over as CEO on May 1, 2020, the company said in a statement. Sievert will replace John Legere, whose contract with the telecommunications company ends April 30, 2020.

Legere was recently one of several candidates in negotiations to take over as CEO at the demanding startup WeWork, but reportedly will not take on that role.T-Mobile did not discuss future plans for Doctors after the contract was terminated.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) –sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. & nbsp; Follow her on Twitter: @emily_mcck "data-reactid =" 48 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

< p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read more from Emily: " data -reactid = "49"> Read more from Emily:

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Follow Yahoo Finance on & [nbsp; Twitter & nbsp; Facebook & nbsp; Instagram & nbsp; Flipboard & nbsp; LinkedIn and & nbsp; reddit . "data-reactid =" 56 "> Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn ] and reddit .

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" Find stock quotes and the latest b news and financial news "data-reactid =" 57 "> Find stock quotes and the latest business and financial news


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