Dow Jones Industrial Average falls 29 points
The Dow fell 29.23 points, or 0.11% to close at 26,787.36. The S&P 500 slipped 0.14% to 2,966.15. The Nasdaq Composite pulled back 0.10% to 8,048.65. The indexes traded in a tight range throughout the session as investors looked ahead to the start of the earnings season while grappling with new worries over trade.
Trade deal or no deal?
A source told CNBC that China wants to have additional talks with the U.S. before signing the first phase of a potential trade deal with the U.S. Bloomberg News first reported the news. This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.
HPE gets boost from upgrade
Shares of Hewlett Packard Enterprise rose more than 4% after an analyst at Evercore ISI upgraded them to in line from underperform, citing an attractive valuation and good cash flow, among other positive catalysts.