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US stocks edge higher ahead of US-North Korea summit

AFP  |  New York 

Wall Street stocks edged higher today, largely shrugging off a contentious weekend meeting while looking ahead to an historic US-summit.

The Dow Jones Industrial Average finished up a hair at 25,322.31.

The broad-based rose 0.1 per cent to 2,782.00, while the tech-rich Index gained 0.2 per cent to 7,659.93.

US stocks spent much of the morning under pressure after a messy finale to the meeting when disavowed a group communique and bitterly attacked Canadian on

Stocks later strengthened but a sell-off near the end of the session cut into the gains. Still, the market's ho-hum reaction to the clash suggested investors remained sceptical that a value-destroying trade war was likely.

"It is probably more bluster than anything else," said Bill Lynch, at "It will probably blow over and end up not having much effect on our going forward." Markets were also fixated on Trump's meeting with North Korean leader Kim Jong Un, which was scheduled to take place Tuesday, time.

Lynch said expectations for the talks were "fairly low" and that any agreement would be a "long, drawn-out process." Investors are also gearing up for policy announcements later in the week by the Federal Reserve and

Among individual companies, shot up 4.5 per cent after said on that the company's updated Autopilot software coming in August would enable "full self-driving features" for the automaker's electric cars.

gained 2.3 per cent after agreeing to be acquired by investment firm for about USD 9.9 billion, including debt.

In another potential deal, surged 7.5 per cent following a report it received a takeover bid from fell 5.2 per cent following the report in The Wall Street Journal, which said it was unclear if was receptive to a transaction.

Utility fell four per cent after a agency concluded that several of the wildfires that ripped through northern part of the state in October 2017 were caused by downed power lines owned by the company.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 02:10 IST
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