• The Dow Jones Industrial Average rose 102.8 points, or 0.41 percent, to 25,385.8, the S&P 500 gained 3.58points, or 0.13 percent, to 2,751.29 and the Nasdaq Composite added 6.19 points, or 0.09 percent, to 7,163.58.· The Dow Jones Industrial Average .DJI fell 16.67 points, or 0.07 percent, to 25,369.13, the S&P 500 .SPX lost 3.06 points, or 0.11 percent, to 2,748.23 and the Nasdaq Composite .IXIC dropped 10.01 points, or 0.14 percent, to 7,153.57.
The three major U.S. stock indexes ended lower on Wednesday after a choppy trading session as investors worried that China would slow U.S. government bond purchases and that U.S. President Donald Trump would end a key trade agreement.
• The S&P 500 pared some losses as yields backed away from their intraday peaks and investors digested the China report. But the index lost ground again in mid-afternoon trading after Reuters reported that Canada is increasingly convinced Trump will soon announce a U.S. exit from the North American Free Trade Agreement. It cited two unnamed government sources.
• “It’s a fairly light week for economic and financial data. In a week like this, political headlines can have a bigger impact than they normally would,” said Jon Mackay, investment strategist at Schroders Investment Management in New York.
While Mackay said the selloff was overblown, he noted that a change to NAFTA could hurt corporate earnings.
“If that news is true, you’d expect a higher dollar price and a negative impact to earnings,” said Mackay.
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