Why the Dow just gave back a big chunk of its gains:
1 p.m. The Dow Jones Industrial Average has been up nearly 200 points in the early afternoon—and then reports that China may be backing away from some of its trade promises hit the wires.
As a result, the Dow is up just 63.72 points, or 0.2%, at 25,977.82, while the S&P 500 has risen 0.3% to 2,841.32, and the Nasdaq Composite has advanced 0.4% to 7,747.82. The market is bouncing back a bit, but it’s clear that there are still jitters about trade. And don’t forget, there’s still a Fed meeting tomorrow, which could be even more important that what the U.S. and China can agree on. “China headlines reason for market pull back,” writes NatAlliance Securities’ Andrew Brenner. “But Fed trumps all.”
Markets Now is a quick take on what’s happening with the Dow Jones Industrial Average and other major market indexes. Don’t forget to check out the rest of Barron’s markets coverage.
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