Dow Ekes on gain as Trump announces progress on trade, Walmart gains by Investing.com

Investing.com – The Dow closed slightly higher on Tuesday after reducing its losses after Walmart's gains and the growing hope that the US and China will reach a trade deal.

The increase of 0.03%, added 0.15%, while the gain of 0.19%.

Less than two weeks before the expiry of the current 90-day truce war, President Donald Trump hinted that the deadline of March 1 could be extended, saying that it is not of a "magic date".

The United States and China began a new round of negotiations as they sought to reach an agreement before the deadline.

Trade-sensitive names like Boeing (NYSE 🙂 and caterpillar (NYSE 🙂 ended the session in the red.

In the preparations for the talks, Trump said in a tweet: "Great progress has been made on so many different fronts!"

The Dow Walmart (NYSE 🙂 component rose 2% after stating that its estimates exceeded Investing.com's forecast, supported by a 43% increase in e-commerce.

Walmart's optimistic report came one week after the US Census Bureau said retail sales had fallen sharply in December since 2009, fueling fears that the strength of the US consumer was down.

In the tech sector, Facebook (NASDAQ 🙂 has been criticized by UK lawmakers for labeling the social media company as a "digital gangster," claiming it knowingly violated the country's data laws. and confidentiality.

Other FANG actions, including Apple (NASDAQ :), Netflix (NASDAQ 🙂 and Google parent Alphabet (NASDAQ :)) closed the day higher.

Energy also supported the market as a whole, as oil prices rose despite a report from the Energy Information Administration predicting an increase in shale production.

In the United States, oil production from seven major shale deposits is expected to increase by 84,000 barrels per day in March to reach 8,398 million barrels per day, according to an EIA report.

Concerns about global growth, however, have limited gains in the wider market.

The World Trade Organization has warned that its trade growth prospects could be revised downward if trade conditions continue to deteriorate. Trade growth is expected to slow to 3.7 percent in 2019 from 3.9 percent in 2018.

Meanwhile, shares of Ford Motor (NYSE 🙂 rose 3.4% after the automaker announced it would exit its commercial heavyweight business in South America and stop production of a Brazilian plant this year to improve the profitability of the region.