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4:03 p.m. ET: Stocks close lower after trade creates choppy session
Here’s how the markets settled at the end of regular trading Tuesday:
S&P 500 (^GSPC): -0.11%, or 3.44 points
Dow (^DJI): -0.10%, or 27.88 points
Nasdaq (^IXIC): -0.07%, or 5.64 points
Crude oil (CL=F): +0.51% to $59.32 per barrel
Gold (GC=F): +0.27% to $1,468.90 per ounce
2:12 p.m ET: Peloton falls 6% after short seller warns of competition
Citron said Peloton’s pricey bikes and digital service are vulnerable to cheaper rivals, and set a price target for the stock of $5. Peloton’s stock fell by $2.32 to $32.45, Reuters reports.
11:20 a.m. ET: Democrats, Trump take a victory lap on ‘new NAFTA’
It looks like the new US-Canada-Mexico agreement — otherwise known as USMCA — is a done deal. House Speaker Nancy Pelosi declared a “victory for the American worker,” while the Semiconductor Industry Association called it “a big win for free trade and America’s global technology leadership.”
10:20 a.m. ET: Walmart tests driverless cars in grocery wars
Attention Houston motorists: That driverless car you spot on the street may be a Walmart (WMT) grocery delivery.
Beginning next year, the retail giant will use autonomous vehicles to deliver groceries in key markets, starting in Houston, Yahoo Finance’s Julia La Roche reports. Walmart’s pilot program ups the stakes in the grocery wars, where Amazon’s Whole Foods and Fresh brands recently began offering free delivery to Prime members.
9:50 a.m. ET: Meanwhile, back at the USMCA ranch
Even as Congress moves to impeach President Trump, Democrats appear (reluctantly) poised to hand the president a win on the successor agreement to NAFTA. Canadian and U.S. government representatives will arrive in Mexico on Tuesday to sign the United States-Mexico-Canada Agreement (USMCA), citing Mexico's President Andres Manuel Lopez Obrador.
The White House and Congress have closed in on a deal, which is backed by House Speaker Nancy Pelosi and other key Democratic leaders. On Tuesday, Trump made encouraging remarks about a final agreement:
Looking like very good Democrat support for USMCA. That would be great for our Country!
— Donald J. Trump (@realDonaldTrump) December 10, 2019
9:41 a.m. ET: What to expect on Wednesday from the Fed
In its final meeting of 2019, the Federal Reserve is expected to hold rates steady after cutting interest rates in three consecutive meetings. And the Fed may not move again until policymakers see a substantial shift in the economic outlook, writes Yahoo Finance’s Brian Cheung.
9:30 a.m. ET: Stocks flat at the open on report of tariff delay
Stocks opened on Tuesday flat to slightly weaker, with the downside limited for now by a report in The Wall Street Journal that the U.S. and China may delay a new round of tariffs — just days before they were scheduled to be implemented. The two sides are struggling to hash out a provisional ‘Phase One’ agreement that would still punt on the major issues.
Here’s where major benchmarks began trading:
S&P 500 (^GSPC): -0.11%, or -3.48 points
Dow (^DJI): -0.14%, or -38.07 points
Nasdaq (^IXIC): -0.06%, or -7 points
Crude (^CL=F): -0.32% to $58.83
10-year Treasury yield (^TNX): flat to 1.8190%
Gold (GC=F): +0.5% to $1,472.40 per ounce
Separately, investors weighed softer-than-expected Q3 productivity data, which saw a steep drop in labor costs.
9:10 a.m. ET: House files articles of impeachment against Trump
As widely anticipated, Congressional Democrats filed impeachment charges against President Donald Trump early Tuesday, centered largely on two charges involving obstruction and abuse of power. Markets have largely shrugged off impeachment concerns, given that a vote for removal in the Senate — where Republicans still hold a slim majority — is very much an open question.