Wall Street extends record-setting rally; FedEx drops
The bellwether stock was an outlier in an otherwise flat U.S. trading before the opening bell. A Wall Street rally spurred by hopes of an initial U.S.-China trade deal last week had propelled the benchmark S&P 500 to record highs for four straight sessions.But the gains appeared to lose some momentum on Wednesday as investors craved more details about the agreement. Another risk factor is an almost certain impeachment of President Donald Trump after a vote in the U.S.
With little chance of another major update on trade progress between the world’s top two economies before the end of the year, analysts say the market will likely stay around present levels. At 7:20 a.m. ET, Dow e-minis 1YMcv1 were up only 6 points, or 0.02%. S&P 500 e-minis EScv1 remained unchanged and Nasdaq 100 e-minis NQcv1 were up 1.25 points, or 0.01%.In results-driven moves, General Mills Inc rose 2.8% after the Cheerios maker beat quarterly profit estimates.
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