S&P 500, Nasdaq dip on trade uncertainty; Boeing lifts Dow

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S&P 500, Nasdaq slip as Trump, Hong Kong sour mood; Boeing lifts Dow

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REUTERS: The S&P 500 and Nasdaq stock indexes slipped from record highs on Monday as uncertainty about progress in the U.S.-China trade talks again rose to the fore following comments by President Donald Trump, while a jump in Boeing shares helped the Dow Jones Industrial Average eke out a gain.

"A lot of good news is priced into the stock market," said Michael Arone, chief investment strategist at State Street Global Advisors. He pointed to the Federal Reserve's interest-rate cuts, third-quarter earnings' topping low expectations, and signs of a bottoming of economic data. Investors will be watching for any trade commentary from Trump on Tuesday, when he is expected to speak at The Economic Club of New York.The Dow Jones Industrial Average rose 26.92 points, or 0.1per cent, to 27,708.16, the S&P 500 lost 5.31 points, or 0.17per cent, to 3,087.77 and the Nasdaq Composite dropped 9.55 points, or 0.11per cent, to 8,465.76.

Walgreens Boots Alliance Inc shares gained 5.6per cent after Bloomberg reported that KKR & Co had formally approached the drugstore giant for what could be the biggest-ever leveraged buyout.sentifi.comInvestor attention will shift to economic data and testimony by Fed Chair Jerome Powell on the economic outlook later this week, while a handful of big companies including Walmart Inc , Cisco Systems Inc and Nvidia Corp will report earnings.

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