Traders work on the floor of the New York Stock Exchange January 30, 2019. About 20 minutes into trading, the Dow Jones Industrial Average stood at 28,088.95, up 0.1 per cent. — Reuters pic
NEW YORK, Nov 26 — Wall Street stocks edged up from record levels early today as markets awaited progress on US-China trade relations and digested mixed retailer earnings.
Major indices had closed at records yesterday, in part due to hopes that an apparent Chinese concession on intellectual property protections could help finalise a trade agreement.
But some investors are growing impatient for concrete news on the longstanding talks. Briefing.com analyst Patrick O’Hare described the market as “drifting.”
About 20 minutes into trading, the Dow Jones Industrial Average stood at 28,088.95, up 0.1 per cent.
The broad-based S&P 500 also added 0.1 per cent at 3,136.59, along with the tech-rich Nasdaq Composite Index, which stood at 8,639.35.
Among individual companies, Best Buy surged 6.8 per cent as it reported better-than-expected third-quarter earnings and offered an upbeat outlook on the holiday season.
But Dollar Tree sank 16.4 per cent as third-quarter profits lagged analyst expectations. The company’s press release cited a number of challenges, including continued uncertainty on trade. — AFP