Wall Street struggles to gain traction despite positive trade headlines
- US and China are reportedly planning to delay December 15 tariffs.
- US Trade Representative travels to Mexico to sign the USMCA deal.
- Real Estate Index post modest gains in early trade.
Wall Street's main indexes started the day modestly lower on Tuesday as investors maintain their cautious stance despite positive geopolitical developments. As of writing, the Dow Jones Industrial Average was down 0.33% on the day while the S&P 500 and the Nasdaq Composite were erasing 0.25% and 0.2%, respectively.
Earlier in the day, the Wall Street Journal reported that negotiators were planning to delay the US' tariff hike on Chinese imports that will go into effect on December 15th. Moreover, the US Trade Representative, Robert Lighthizer, is reportedly travelling to Mexico to sign the United States-Mexico-Canada Agreement (USMCA) trade agreement.
The Real Estate Index is the only major S&P 500 sector that is posting gains in the early trade. On the other hand, the Communication Services Index is down 0.5% to lead the losers.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
