AM Report 23 Aug 18: US political concerns overshadowed by strong results and a positive FED

 US sharemarkets were mixed on Wednesday. The S&P500 index marked its longest ever bull market run of 3,453 days. But political uncertainty weighed on markets as the impact of the legal woes of two former advisers to US President Donald Trump loomed. US-China trade talks started with US$16 billion worth of new tariffs on each other's goods due on Thursday. Retailer Target (+3.2%) posted its best comparable sales growth in 13 years. And home improvement retailer Lowe's shares rose 5.8% after a strong earnings result. The Dow Jones index closed down by 88 points or 0.3%; the S&P 500 index was flat and the Nasdaq rose by almost 30 points or 0.4%.

 

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