Dow higher on potential US-China talks
Stocks were mostly flat Wednesday, giving back some earlier gains that followed a Dow Jones report that the U.S. will reach out to China for another round of trade talks.
The Dow Jones Industrial Average rose 27.86 points, or 0.11 percent, to 25,998.92. The S&P 500 gained 1.03 points, closing at 2,888.92. The Nasdaq Composite fell 18.25 points. or 0.23 percent, to 7,954.23.
Wednesday afternoon, the Federal Reseve released its Beige Book, a collection of ancedotes on the state of the U.S. economy. Highlgihts include that three Fed districts reported 'somewhat below average growth' while wage growth was modest across the U.S. with most districts reporting widespread labor shortages.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38503.69 | +263.71 | +0.69% |
| SP500 | S&P 500 | 5070.55 | +59.95 | +1.20% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15696.639958 | +245.33 | +1.59% |
Meanwhile, all eyes were on Hurricane Florence which remains on track to make landfall near the Carolina coast this week. Shares of airlines, home improvement centers and insurance companies could be active on Wednesday.
Trade will continue to dominate the headlines. Talks continued toward a trade agreement between the U.S. and Canada, but still no deal. The Canadian delegation is heading home to brief Prime Minister Trudeau in person.
Apple shares fell more than 1 percent as the company announced three new versions of the iPhone and the next iteration of its Watch.
Commodities were mixed but oil was higher.
FOX Business' Leia Klingel contributed to this article.