Stocks gyrated Thursday on conflicting tweets about a possible trade deal with China, but ended at a record.
 | THU, DEC 12, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 271.46 | +0.69 | +0.25% | | INTC | 57.55 | +0.48 | +0.84% | | CSCO | 45.67 | +1.39 | +3.14% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 11.44 | +0.47 | +4.28% | | AMD | 42.59 | +3.12 | +7.90% | | DHR | 151.30 | +1.63 | +1.09% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 42.59 | +3.12 | +7.90% | | MU | 50.97 | +1.71 | +3.47% | | CMCSA | 43.01 | +0.94 | +2.23% | |
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At 9:35 a.m. ET, President Donald Trump tweeted: "Getting VERY close to a BIG DEAL with China. They want it, and so do we!"
Major indexes soared to intraday records. The Dow Jones Industrial Average was up more than 300 points. Then, around 10:25 a.m. ET, came the response from Chinese sources, "China wants to see real actions not just words to show sincerity such as rolling back tariffs," tweeted @GlobalTimesBiz, citing a researcher at the Chinese Ministry of Commerce.
Suddenly, all the excitement dissipated, erasing most of the day's gains.  Stocks turned higher later in the day on reports that the Trump administration had indeed reached a deal in principle. There were few details. But at this point, any deal will do, even a wimpy one, CNBC's Patti Domm writes. It still could take a long time to reach a full agreement. Derek Scissors, a resident scholar at the American Enterprise Institute, told CNBC's Brian Sullivan that's not surprising. "Where I think the administration is faltering is that they appear to be pandering ... to the stock market," he said on "The Exchange." "Don't negotiate in public. Wait until you have a deal and be quiet until then. … The problem is the public commentary." |
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