Dow Jones Industrial Average fell 27 points
The Dow fell 27.88 points, or 0.10% to end the day at 28,239.28. The S&P 500 fell 0.04% to 3,191.14. The Nasdaq Composite advanced 0.05% to 8,827.73. Stocks continued their drift into record territory during much of the day but turned lower. Enthusiasm was capped by sharp losses from FedEx.
6-day winning streak
The major averages posted their sixth straight win as the temporary removal of the U.S.-China trade headwinds kept investors from selling at record levels. These slight moves higher come with less than 10 trading days left in what has been a banner year on Wall Street. To be sure, those worries will return in the new year as China and the U.S. try to hammer out a so-called phase two deal which is expected to address key structural issues, including forced technology transfers.
FedEx shares tumbled more than 10% after the shipping giant issued quarterly results that missed analyst expectations. The company said its results were impacted by a weaker global economy and the loss of a large customer, presumed to be Amazon.
What happens next?
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