Sat, 30 May 2020

Dow makes small gain, S&P 500 and Nasdaq slip

Lola Evans
23 Oct 2019, 08:07 GMT+10

NEW YORK, New York - U.S. stocks were mixed on Tuesday with the Dow advancing, while the S&P 500 and Nasdaq had their wings clipped.

In the UK, the British parliament again rejected a deal that would ensure Britain departed the European Union with a deal on 31 October.

The EU is now considering whether to recommend an extension to the 31 October deadline, possibly to January. The odds of that happening are high, however an extension would probably lead to a general election, as current lawmakers appear unable to agree on a way out of the EU.

Shares in Europe and the UK surprisingly made gains, however the British pound slumped. There was little impact on Wall Street.

"There's some disappointment from Brexit," Tim Ghriskey, chief investment strategist at Inverness Counsel in New York told the Reuters Thomson news agency on Tuesday. "But I don't think it has a huge impact on the U.S. market."

At the close of trading Tuesday, the Dow Jones Industrial Average was up 13.9 points, or 0.05%, at 26,841.54.

The Standard and Poor's 500 dipped 5.3 points, or 0.18%, to 3,001.42.

The Nasdaq Composite dropped 44.52 points, or 0.55%, to 8,118.47.

The euro was a tad lower at 1.1125. The British pound fell sharply to 1.2868. The Japanese yen made slight gains to 108.47. The Swiss franc eased to 0.9893.

The Canadian dollar was unchanged at 1.3095. The Australian dollar slipped a few points to 0.6852, while the New Zealand dollar declined to 0.6405.

In London, the FTSE 100 rose 0.68%. The German Dax advanced 0.05%, while in Paris, the CAC 40 climbed 0.17%.

On Asian markets, China's Shanghai Composite advanced 14.76 points or 0.50% to 2,954.38.

In Hong Kong, the Hang Seng rose 60.52 points or 0.23% to 26,786.20.

The Australian All Ordinaries climbed 20.90 points or 0.31% to 6,778.60.

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