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Dow, S&P 500 Close With Small Losses

After failing to hold on to early gains
By Newser Editors and Wire Services
Posted Jun 26, 2019 3:00 PM CDT
In this June 20, 2019, file photo trader Joseph Lawler works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – The Dow Jones Industrial Average and S&P 500 are closing with small losses Wednesday after failing to hold onto early gains, the AP reports. Stocks rose earlier after comments from Treasury Secretary Steven Mnuchin raised hopes for a US-China trade deal. But losses in what are considered the market's safer sectors, such as consumer products and utilities, offset a strong performance by technology stocks. General Mills fell 4.5% after reporting weak sales trends in North America. Chip stocks jumped after Micron Technology forecast improved demand for smartphone chips the rest of the year. Micron rose 13.3% and Nvidia gained 5.1%. The S&P 500 slipped 3 points or 0.1% to 2,913. The Dow slid 11 points to 26,536. The Nasdaq, with a heavy component of technology stocks, gained 25 points, or 0.3%, to 7,909. (Read more stock market stories.)

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