Stocks finish mostly higher after upbeat economic data

Traders
work on the floor of the NYSE in New York
Thomson Reuters

Stocks were mostly higher Wednesday as markets turned attention
away from trade-war fears and toward upbeat economic data. The
dollar
slipped, and Treasury yields jumped. 

Here’s the scoreboard:

Dow Jones industrial
average: 26,406.57 +159.61
(+0.61%)

S&P
500: 2,909.75 +5.44 (+0.19%)

Nasdaq
Composite: 7,950.87 −5.24
(-0.07%)

1. As threats to exclude Canada loom, NAFTA progress
   
   remains elusive. Meeting for the first time
   in weeks, US Trade Representative Robert Lighthizer and
   Canadian Foreign Minister Chrystia Freeland were expected to
   discuss sticking points like dairy-market access and how trade
   disputes should be settled. President Donald Trump recently
   said the US could move forward with Mexico only if Canada
   doesn’t make concessions. 
2. An uptick in US apartment construction last month more
   than offset weakness in single-family home building.
   The Commerce Department said housing starts rose
   9.2% in August, fueled by growth in multifamily homes.
   Building permits, which signal future construction, dropped
   sharply to a 15-month low.
3. The US current-account deficit narrowed
   more than expected in the second quarter. The
   trade gap fell to $101.46 billion between April and June,
   the Commerce Department said, down 17% from $121.71 billion for
   the first three months of 2018. The decline came amid a surge
   in exports, which may have been helped by foreign customers
   rushing orders as global trade tensions escalate. 
4. Canadian pot producer Tilray
   whipped around. CEO Brendan Kennedy had talked up
   growth prospects in an interview with CNBC, a day after the
   company said it had received
   approval from the Drug Enforcement Administration to export
   medical marijuana to the US. Shares gained as much as 93%,
   hitting a high of $300 apiece before settling at $214.06.

And a look at the upcoming economic calendar:

• Canada releases data on consumer prices and retail
  sales. 
• The Swiss National Bank announces the London interbank
  overnight rate.
• Retail sales numbers are out in the UK.