Stocks Ended Mixed, Nasdaq Notched Third Record Close

U.S. stocks ended mixed on Tuesday as Nasdaq closed at a record high for a third session while the Dow Jones Industrial Average’s push toward 20,000 was again thwarted. The Dow Jones Industrial Average slipped 31.85 points, or 0.16%, to 19,855.53. The S&P 500 finished mostly unchanged at 2,268.90. The Nasdaq Composite rose 20.00 points, or 0.36%, to 5,551.82.

Oil prices fell sharply Tuesday to finish the session at their lowest level in nearly five weeks, weighed by worries about an increase in U.S. production. February West Texas Intermediate crude fell by $1.14, or 2.2%, to settle at $50.82 a barrel. March Brent crude dropped $1.30, or 2.4%, to $53.64 a barrel.

President-elect Donald Trump’s tax cuts and spending plans could deliver a shot in the arm to the U.S. economy, lifting growth around the world, although uncertainty about his trade policies adds to the risks, according to the World Bank.

Company owners’ expectations for the economy surged after the election to the highest level since December 2004, the National Federation of Independent Business said Tuesday. The advocacy group said its Index of Small Business Optimism, compiled from a survey of 619 members, gained 7.4 points to 105.8 last month.

General Motors Co. (GM) said Tuesday it expects adjusted per-share earnings of $6.00 to $6.50 for 2017. The company’s board has approved an additional share buyback program of up to $5 billion, bringing the total authorization to $14 billion. The company is adding $1 billion to its cost savings target, which now totals $6.5 billion.

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