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Stocks close mixed on fresh trade fears



Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., February 9, 2018. REUTERS/Brendan McDermid
work on the floor of the NYSE in New York

Thomson Reuters

Stocks were mixed Tuesday after President Donald Trump doubled
down on protectionist rhetoric in an address before the United
Nations General Assembly, saying Americans will no longer
“tolerate abuse” on trade. The dollar retreated as the Federal
Reserve kicked off its two-day policy meeting, and Treasury
yields jumped. 

Here’s the scoreboard:

Dow Jones industrial
26,496.65 −65.40

 2,917.44 −1.93 (-0.066%)

8,007.47 +14.22

  1. Brushing off a rise in tensions with major trade
    partners, Americans are feeling
    upbeat about the economy
    The Conference
    Board said its consumer confidence reading jumped to 138.4 in
    September from a revised 134.7 last month, marking the highest
    reading in a decade and a half.
    Separate data
    out showed July home prices gained at the
    slowest pace in 10 months.
  2. Progress on NAFTA revisions stalled again, increasing
    talk of a bilateral trade deal between the US and
    The Trump administration is ready to
    move forward without Canada
    , Trade Representative Robert
    Lighthizer reiterated at a New York conference. Sticking points
    include access to Canada’s protected dairy market and how
    trade disputes should be settled.

  3. Oil
    prices pared gains but held close to four-year
    called on OPEC
    and Russia once again to increase oil
    output as the world braces for US sanctions on
    Iranian barrels. A cartel committee met over the weekend to
    discuss supply concerns, but didn’t announce a
    production hike

And a look at the upcoming economic calendar:

  • The Federal Reserve is expected to raise its benchmark
    interest rate. 
  • The US reports on final GDP, trade, and manufacturing
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