President Trump’s Mixed Messages on Trade Deal Rattle the Stock Market


3 min read

Opinions expressed by Entrepreneur contributors are their own.


The stock market whipsawed today as the President delivered conflicting messages about ongoing trade negotiations between the U.S. and China. Yesterday, the President said that China had broken the deal but suggested today that an agreement could still be reached before more tariffs on Chinese goods take effect at midnight tonight. He also added that tariffs were an “excellent” alternative to a deal.

Investors don’t know what to make of the situation. Stock prices were down sharply this morning before recovering ground in the afternoon. The Dow and S&P indexes ended the day off 0.54 percent and 0.3 percent respectively while the Nasdaq Composite fell 0.41 percent. The Entrepreneur Index™ closed the day with a loss of 0.33 percent.

Technology stocks were generally down today. Twitter (0.54 percent), Verisign Inc. (0.3 percent) and Cognizant Technology (0.2 percent) had small gains. TripAdvisor Inc. was also up 0.33 percent. It fell 11.4 percent yesterday after the company reported financial results.

Related: Warren Buffett Recently Invested in Amazon. It Made Him Nearly $250 Million Before.

All four FAANG stocks on the index were in the red today with Amazon (-0.93 percent) and Facebook (0.47 percent) down the most. Economy and trade-sensitive chipmaker NVIDIA Corp., down more than three percent in the morning, ended the day with a 2.14 percent loss.

Other multinational companies, particularly those with exposure to the Chinese economy, were also down sharply today. Cosmetics-maker Estee Lauder Companies declined by more than two percent in the morning, but rallied to post a smaller loss of 0.85 percent. Ford Motor Co. fell 1.35 percent.

The two drug-makers on the Entrepreneur Index™, Regeneron Pharmaceuticals and Alexion Pharmaceuticals, fell 1.47 percent and 1.41 percent respectively. Alexion is still up 35.3 percent this year while Regeneron, which reported weak earnings on Tuesday, is down 13.2 percent.

Investment bank Jefferies Financial Group was down 1.16 percent and whiskey-maker Brown-Forman Corp. lost 1.0 percent. Tesla fell for the third consecutive day, dropping 1.17 percent. The shares are down 27.3 percent this year.

Solid gains on the Entrepreneur Index™ were few and far between today. Retailer Bed Bath & Beyond had the biggest, rising 1.2 percent. The stock has jumped 42 percent this year as the market hopes activist investors can help whip the struggling retailer into shape.

Ralph Lauren Corp. was up 1.04 percent after getting an upgrade to outperform from an RBC Capital Markets analyst. Medical products maker Boston Scientific and food-maker J.M. Smucker Company were the only other stocks on the index to gain more than one percent. They were up 1.01 percent and 1.08 percent respectively.

Other gains on the index included homebuilder D.R. Horton Inc. (0.9 percent), retailer Costco Wholesale Corp. (0.88 percent) and Comcast (0.87 percent).

Ride-sharing firm Uber Technologies will float its initial public offering into an uncertain market tomorrow.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Source

more recommended stories

  • 5 Science-Backed Ways to Boost Your Creativity

    These tips could revolutionize your approach.

  • Use This Green Beret Method to Find Out if Someone Is Trustworthy

    Thinking about a new partnership? Check.

  • 9 Airbnb Rental Tax Deductions You Can Take for Your Vacation Properties

    Maximize your short-term rental tax savings.

  • The Unheard Voices of the Cannabis Social Equity Movement

    It’s fallen to the legal cannabis.

  • How to Make Money in the Freight Brokering Business

    One expert’s insights into taking advantage.

  • Jay-Z Gets Into the Pot Game (60-Second Video)

    Your weekly rundown of the biggest.

  • 3 Female Leaders Share Their Secrets for Starting and Growing a Business

    These lessons are a reminder that.

  • 6 Easy Steps to Making Connections That Make Money and Create Happiness

    Transform your career and make money.

  • This Female Founder Fought to Stay in the Game And She Just Raised $3 Million in Funding from Serena Williams, Mark Cuban and Arlan Hamilton

    July 15, 2019 5 min read.

  • Tips and Tools for Making Progress Toward Important Goals

    Attend this free webinar and learn.

  • How Digital Marketing Changed the 2016 Presidential Race and Will Change 2020’s.

    As an entrepreneur, there are certain.

  • NFL’s Calvin Johnson and Rob Sims Talk Cannabis: It’s ‘A God-Given Gift’

    Two battered former players who never.

  • 3 Ways AI Can Help Businesses Improve Customer Relations

    The power of AI can lead.

  • 4 Essentials for Complying With the New Data Privacy Regulations

    Consumers need reassurance and protection from.

  • Why This Entrepreneur Says to Check Your Ego at the Door

    July 13, 2019 1 min read.

  • CNBC’s Tim Seymour Talks About Cannabis M&A, Private Vs. Public Markets

    Cannabis is good investment, unless you.

  • 3 Areas Where Enterprise-Focused Startups Are Poised to Make an Economic Impact

    How do you improve efficiency by.

  • What Really Causes Depression?

    Here’s what every entrepreneur needs to.

  • The Unexpected Philosophy That Led Me to My Biggest Closed Deals Ever

    Forget the conventional sales wisdom; if.

  • How This Founder Overcame Challenges He Never Saw Coming

    This entrepreneur and Yale dropout hoped.

  • How to Make Promising Opportunities Come to You

    Grow your business and personal passion.

  • Sacrifice Your Way to Your Dream Job in Sports

    This former mailroom worker talks about.

  • Jay-Z Gets Into the Pot Game

    The legendary rapper/entrepreneur got 99 problems.

  • Fitness Professional Jay Dang on Why Confidence Is the Key to Success

    You have to earn it. July.

  • WarnerMedia’s HBO Max Launches in 2020, and It’s Bringing ‘Friends’

    The streaming service will come loaded.

  • 6 Quotes on Business and Life From Billionaire and 2-Time Presidential Candidate Ross Perot

    The philanthropist died on Tuesday at.

  • Work-Life Balance Is Essential for Entrepreneurs

    If your life is out of.

  • How This Entrepreneur Built a Million-Dollar Business by Focusing on These 3 Strategies

    July 8, 2019 3 min read.

  • USA! Americans Spent $400M on Cannabis for Fourth of July

    Legal marijuana is not yet as.

  • What If Renting an Apartment Were as Easy as Booking an Airbnb?

    AI startup Block wants to make.

  • Back Up Your Whole Team’s Work With Cloud Storage

    Zoolz Cloud Backup has enough space.

  • Taylor Stitch Makes Us Rethink Our Wardrobe

    Most clothes end up in the.