The US stock market finished session virtually flat on Wednesday, 06 November 2019, as investors seemed reluctant to make significant moves amid some uncertainty about the near-term outlook for the markets after the recent run to record highs and as lack of concrete progress on US-China trade talks. At closing bell, the Dow Jones Industrial Average eased 0.07 point, or 0.00%, to 27,492.56. The Nasdaq Composite fell 24.05 points, or 0.29%, to 8,410.63, while the S&P 500 grew 2.16 points, or 0.07%, to 3,076.78.
Investors remain uneasy over the lack of tangible headway after the two sides announced a preliminary verbal agreement on trade last month and Washington held off on tariff increases.
Wednesday reports that the United States and China might delay a meeting to formalize the agreement rankled investors.
Trump may be unable to deliver on his phase one trade deal, raising the risks for the stock market of the mid-December tariffs being implemented.
A senior Trump administration official told discussions continue over terms of phase one of the trade deal and a venue for a meeting between Trump and Xi. Sites in Europe and Asia have been suggested for the meeting, with Sweden and Switzerland among the possibilities, while Trump's suggestion of Iowa appears to have been ruled out, the official said. The official said China's latest push for more tariff rollbacks was not expected to derail progress toward an interim deal but noted that it was still possible an agreement would not be reached.
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