Stock marketplace news: Nov 22, 2019

U.S. bonds were mostly aloft Friday, recuperating after 3 uninterrupted event of losses. Comments from Chinese President Xi Jinping underscored Beijing’s hopes of removing a trade understanding finished with a U.S.

Here were a categorical moves in markets, as of 11:46 a.m. ET:

  • SP 500 (^GSPC): +0.05%, or 1.56 points

  • Dow (^DJI): +0.21%, or 59.54 points

  • Nasdaq (^IXIC): -0.08%, or 6.63 points

  • 10-year Treasury produce (^TNX): -0.5 bps to 1.767%

  • Gold (GC=F): +0.08% to $1,464.80 per ounce

China’s Xi pronounced Friday that he wants to come to a proviso one agreement with a U.S. so prolonged as any understanding is on the “basis of mutual honour and equality,” according to a Bloomberg report. Xi done a comments during a assembly Friday with ubiquitous visitors to Beijing including Henry Kissinger, former U.S. Secretary of State.

Rhetoric over trade prospects from Chinese officials has picked up, assisting to keep equities nearby record highs notwithstanding shoal pullbacks over a past integrate of sessions. Xi’s remarks came after China’s tip trade adjudicator Liu He indicated in a debate Wednesday that he was “cautiously optimistic” about achieving an halt trade understanding with a U.S.

During an talk with Fox News Friday, President Donald Trump pronounced a dual sides were “very close” to finalizing a proviso one trade agreement and have “a really good possibility to make a deal.”

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A merchant works on a building of a New York Stock Exchange shortly after a opening bell in New York City, U.S., Nov 21, 2019. REUTERS/Lucas JacksonA merchant works on a building of a New York Stock Exchange shortly after a opening bell in New York City, U.S., Nov 21, 2019. REUTERS/Lucas Jackson

Separately, euro area mercantile activity remained diseased in November, according to IHS Markit’s latest purchasing managers’ indices. The institution’s peep combination PMI, that serves as a closely watched sign of mercantile health, fell to 50.3, next expectations for 50.9 and October’s reading of 50.6. Readings above a neutral spin of 50 prove expansion.

The title index noted a second-lowest outlay imitation given Jul 2013, driven by a third true month in new orders for products and services.

“Expectations about destiny outlay remained good next levels seen progressing in a year, reflecting heightened domestic uncertainty, including Brexit, trade wars and automobile tariffs, and ubiquitous concerns about negligence demand,” IHS Markit pronounced in a statement. “However, view was nonetheless a best for 4 months, despite by a tiny margin.”

ECONOMY: U.S. manufacturing, services zone activity picks adult in November

U.S. business activity softened in both a prolongation and service sectors in November, according to a report Friday from IHS Markit.

The U.S. peep prolongation PMI rose to 52.2 for a month, above expectations for 51.4 and a month prior’s 51.3. Manufacturers saw a biggest arise in new orders given April, “with products producers signaling a serve liberation from a slack seen progressing in a year,” IHS Markit pronounced in a statement.

The services PMI softened by one indicate from Oct to 51.6, brazen of expectations for a reading of only 51.0. The boost was driven by an uptick in new customer direct and pursuit creation, IHS Markit said.

Put together, a combination PMI for private zone outlay increasing to 51.9 in Nov from 50.9 in October, imprinting a four-month high.

“A acquire upswing in a title index from a peep PMI adds to justification that a misfortune of a economy’s new soothing patch might be behind us,” Chris Williamson, arch business economist during IHS Markit, pronounced in a statement.

STOCKS: Tesla unveils a Cybertruck, Nordstrom formula tip expectations

Tesla (TSLA) denounced a long-awaited electric pick-up truck, dubbed a “Cybertruck,” Thursday dusk in Los Angeles. The car will start during $39,900, in line with CEO Elon Musk’s prior remarks that a car would be underneath $50,000. The Cybertruck will be means to accelerate from 0 to 60 in 2.9 seconds on a high end, Musk said, and towing ability for a trimotor chronicle will be around 14,000 pounds.

Tesla is taking orders on a website for a Cybertruck with a refundable $100 deposit, and suggested a lower-priced indication would approaching start in late 2021. The higher-end trimotor chronicle is set to start prolongation in 2022, Tesla said.

Gap (GPS) posted improved than approaching third-quarter practiced gain formula after marketplace tighten Wednesday. But a association continued to beam toward diseased top-line performance, and Gap’s sales struggles had culminated in a depart of former CEO Art Peck progressing this month.

Third-quarter practiced EPS came in during 53 cents, aloft than 50 cents a Street expected, according to Bloomberg data. Overall allied same-store sales declined 4%, with flagship Gap comps disappearing 7%, Banana Republic comps descending 3% and Old Navy comps dropping 4%. Gap guided toward a full-year allied sales decrease in a mid-single digits, after formerly running toward only a low-single number decline.

Interim CEO Robert Fisher pronounced he is seeking to “aggressively” spin a tradesman around and will pierce brazen with a formerly announced spinoff of Old Navy.

Nordstrom (JWN) posted improved than approaching third-quarter results, shrugging off concerns that had tormented counterpart dialect stores like Macy’s in a duration streamer into a holidays. While income forsaken 2% over final year to $3.67 billion, this was aloft than a Street’s expectancy for $3.58 billion. Earnings were 81 cents a share, good above expectations for 63 cents.

In a third quarter, Nordstrom pronounced it had fewer markdowns as “continued register discipline” in a off-priced product brew and “higher sell-through” for full-priced equipment increased profitability. Nordstrom pronounced it sees full-year EPS of between $3.30 to $3.50 a share, squeezing and lifting a bottom finish of a superintendence from $3.25 seen before.

Foot Locker (FL) posted improved than approaching third-quarter earnings, imprinting a turnaround after unwell to accommodate expectations in progressing buliding this year and obscure superintendence in May.

Third-quarter allied same-store sales jumped 5.7%, improved than a 2.9% arise in a same entertain final year and a 4.8% boost expected by analysts. Adjusted EPS were $1.13, or 5 cents brazen of expectations. Foot Locker is approaching to advantage from Nike’s (NKE) preference to stop offered a products by Amazon (AMZN), and a retailer’s batch had risen on Nov. 13 when a shoe-maker initial done a announcement.

Emily McCormick is a contributor for Yahoo Finance. Follow her on Twitter: @emily_mcck

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