Market Roundup: Mixed Results as Investors Watch Phase I Deal and Brexit

Published: Oct. 21, 2019, 8:51 p.m.

Monday’s market was choppy as investors began to have doubts about the finalization of the Phase I deal with China. Financial stocks were among the best performers ahead of earnings announcements on Tuesday. The major indices ended with gains on Tuesday, as both the Dow Jones Industrial Average and S&P 500 Index closed within 1% of record highs. Unfortunately, by mid-week, the indices landed in the red zone dipping on a variety of economic news. Retail sales slipped 0.3% for September, missing expectations of a much stronger figure. Additionally, business inventories were unchanged during August, despite the increase expected by analysts. Indices closed in the green zone on Thursday, with stocks stepping up on news of a tentative Brexit agreement. The indices were down on Friday, as investors were keeping an eye on overseas developments. The Technology and Industrial sectors took a step back, while Consumer Staples, Consumer Discretionary and Utilities advanced.