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TODAYS NEWS FOR FEB 19, 2019
Stocks rise after Trump signals flexibility on March trade deadline, Walmart
Stocks rose slightly on Tuesday after President Donald Trump hinted once again he may push back a key trade deadline. Equities also got a boost following strong quarterly numbers from Walmart.
The Dow Jones Industrial Average climbed as much as 78.19 points before ending the day up 8.07 points at 25,891.32. The S&P 500gained 0.15 percent to close at 2,779.76 as the materials sector outperformed. The Nasdaq Composite closed 0.2 percent higher at 7,486.77 as Amazon and Netflix both rose more than 1 percent.
Trump said Tuesday that trade talks with China are going well, adding the current March deadline is not a "magical date." Both countries have until then to come up with a deal. Otherwise, additional U.S. tariffs on Chinese products could take effect. Trump indicated last week, however, he would be willing to push back the deadline.
European markets close lower; HSBC shares slide 4%
The pan-European Stoxx 600 was down 0.2 percent at the closing bell, with most major bourses in negative territory.
Europe's banking index led the losses, down 0.9 percent amid earnings news.
Market focus is largely attuned to trade developments between the world's two largest economies, with a new round of negotiations expected in Washington on Tuesday.
Asia markets mixed amid renewed US-China tensions
Major stocks markets in Asia were mixed on the day.
The White House said on Monday that trade talks between the two economic powerhouses will continue in Washington on Tuesday, with higher level negotiations starting later in the week.
Meanwhile, Beijing said Monday that the U.S. is attempting to curtail its technology development by claiming that Chinese mobile network gear might pose a cybersecurity threat to foreign countries which adopt the equipment.