Stocks Ended Mixed after Trump Speech

U.S. stocks ended mixed on Tuesday, after President Donald Trump suggested a trade deal with China could happen soon but did not offer clarity on a rollback of import tariffs. The Dow Jones Industrial Average finished virtually unchanged at 27,691.49. The S&P 500 added 4.83 points, or 0.16%, to 3,091.84. The Nasdaq Composite gained 21.81 points, or 0.26%, to 8,486.09.

Oil futures ended slightly lower on Tuesday, to post back-to-back declines, as a speech from President Donald Trump failed to offer any market-moving insights related to progress on trade talks between China and the U.S. West Texas Intermediate crude for December delivery lost 6 cents, or 0.1%, to settle at $56.80 a barrel, while January Brent crude shed 12 cents, or 0.2%, to $62.06 a barrel.

At the Economic Club of New York, President Donald Trump said a “significant phase one” trade deal could happen soon, but that he would only accept it if the agreement worked to the advantage of U.S. workers and businesses. He also blamed Fed policy tightening for impeding the economy’s progress and the benefits of his tax cuts.