Stocks Mostly Gain as FANG Feels Trade Pressure: Markets Wrap
- Pound jumps as EU negotiator says Brexit deal is realistic
- Dow Jones Transportation Average closes at record high
Most U.S. stocks hung onto gains to close higher even as FANG weakness and lingering concern over U.S. and China trade tensions weighed on investor optimism. Apple, Amazon.com and Google parent Alphabet were among the biggest losers in the Nasdaq 100 Index.
The S&P 500 broke a four-day slide, bolstered by increases in Microsoft and Home Depot, while the Dow Jones Industrial Average fell for a second day. The Dow Jones Transportation Average set a record high. The Stoxx Europe 600 Index rose as Italy’s benchmark surged, buoyed by official government comments over the weekend that the country’s impending budget will be pragmatic and within EU fiscal rules. Emerging-market shares slid. Equities sank in Shanghai and Hong Kong, with the latter’s benchmark nearing a bear market in the wake of President Donald Trump’s threat to step up his trade showdown with China.