Dow Jones Industrial Average falls 1 point
The Dow dipped 1.63 points, or 0.01% to close at 27,781.96. The S&P 500 climbed 0.08% to 3,096.64. The Nasdaq Composite closed 0.04% lower at 8,479.02. Stocks hovered around record levels but lingering trade worries kept sentiment in check.
Trade snag tempers market enthusiasm
Wall Street’s enthusiasm has been slightly curbed as U.S.-China trade talks hit a snag recently over agricultural purchases by the Chinese. Sentiment around trade also took a hit after U.S. senators pushed for a vote on a Hong Kong rights bill as protests there escalate. The fact that equities remain around record highs and have not sold off amid the snag is being interpreted as a positive by some investors. However, if China and the U.S. fail to reach even a so-called phase one trade deal, all bets will be off on Wall Street.
Cisco shares drop, Walmart hits record
Cisco Systems dropped 7.33% after the company issued disappointing revenue guidance for the current fiscal quarter. That forecast overshadowed stronger-than-forecast quarterly earnings. Walmart rose as much as 3.6% to a record high of $125.38 on earnings that beat analyst expectations. However, the retailer’s stock closed 0.27% lower.
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