Stocks finish mixed amid Italy worries
Stocks were mixed Tuesday, with the Dow closing in on record highs, as trade tensions eased and after Italy quarreled with the European Union over its budget. Facebook weighed on the tech-heavy Nasdaq, days after the social-media giant announced a major security breach. The dollar jumped against a basket of peers, and Treasury yields fell.
Here's the scoreboard:Dow Jones industrial average: 26,778.35 +127.14 (+0.48%)
S&P 500: 2,924.22 −0.37 (-0.01%)
Nasdaq Composite: 2,923.84 −0.75 (-0.03%)
- Amazon announced it will raise its minimum wage to $15 an hour beginning in November. The move follows months of criticism over its treatment of workers. In a statement, chief executive Jeff Bezos said the company had listened to its critics.
- Italy's budget continues to rattle European markets. Reuters reports the new populist government coalition threatened to sue EU officials who it blamed for the sell-off in its financial markets. The country has been clashing with eurozone partners after refusing to modify its ambitious spending plans, which include a budget-deficit target of 2.4%.
- Tesla topped expectations for Model 3 deliveries in the third quarter. With 55,840 Model 3 sedans, the electric-car maker beat both its guidance and analyst expectations. Total vehicle deliveries also came in higher than expected at 83,500. Shares of the company fell more than 3% following the announcement.
And a look at the upcoming economic calendar:
- Employment data are out in the US and Canada.