Near term factors:
China Trade Deal
Long term factors:
The U.S. Stock market closed lower as trade tensions continue to be headline news. China and the United States have yet to agree on terms regarding trade going forward. It seems as time goes on that it only creates more tension between the two behemoth economic powerhouses. In addition, falling oil prices bring energy names lower while healthcare and utilities led a flight to safety. In economic news, initial jobless claims came in lower than expected, leading investors to believe in existing strength in the labor market. New home sales data missed and U.S. Treasury prices rose, as yields fell.
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