Market Roundup: Trade Tensions Take Toll on Investors’ Patience

Published: May 29, 2019, 11:12 p.m.

Indices closed in the red zone on Monday, as many Technology brands traded lower on trade tensions. The major indices reversed course into green territory on Tuesday with Technology brands rebounding after the Commerce Department eased restrictions on China’s Huawei Technologies. The company has three months to access U.S. technology and buy equipment from American companies to maintain the existing network and update handsets. Stocks dipped as trade tensions ramped up Wednesday with some key Technology names selling off while others slipped on missed first-quarter earnings expectations. In economic news, the Fed minutes from the April 3—May 1 policy meeting were released, revealing no rate moves expected for the immediate future even if the economy improves. Trade tensions continued to weigh on the Technology sector Thursday, dragging the market down as a whole. However, avoiding the downswing, the Utilities and Real Estate sectors posted gains. The Friday before the long Memorial Day weekend experienced a dip mid-morning but regained footing to remain positive through close. Investors appeared to be encouraged by President Trump’s indication he may lighten his stance on Huawei Technologies.