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Stocks finish mostly higher after upbeat economic data



FILE PHOTO: Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., February 26, 2018. REUTERS/Brendan McDermid
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
slipped, and Treasury yields jumped. 

Here’s the scoreboard:

Dow Jones industrial
26,406.57 +159.61

 2,909.75 +5.44 (+0.19%)

7,950.87 −5.24

  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
     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.
    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
    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
  • The Swiss National Bank announces the London interbank
    overnight rate.
  • Retail sales numbers are out in the UK. 
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