The S&P 500 was little changed on Tuesday with investors staying on the sidelines following a three-day rally, as optimism from U.S. and China ...
NEW YORK: The S&P 500 and the Nasdaq hit all-time closing highs on Tuesday, but a drop in Apple stock capped gains from positive developments in U.S.-China trade and fresh progress in the medical battle against the coronavirus pandemic.Advertisement
"These changes reflect what has occurred in the overall business environment," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York. Later in the week the Kansas City Fed will convene its virtual Jackson Hole Economic Policy Symposium, with U.S. Federal Reserve Chairman Jerome Powell expected to speak.
"Wall Street believes in a year from now the economy is going to improve and it's positioning itself to what it anticipates six months to a year from now."
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