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Wall Street ekes out gains

Video Credit: Reuters Studio
Published on November 18, 2019 - Duration: 01:08s

Wall Street ekes out gains

Stocks on Wall Street inched higher Monday, driving the indexes to record closing highs.

As Fred Katayama reports, falling energy shares capped the gains.

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Wall Street ekes out gains

Stocks inched higher Monday amid mixed headlines on U.S.-China trade relations.

But that was enough for the three big indexes to rise one-tenth percent to close at record highs.

Consumer stocks rallied, but falling oil prices dragged down energy stocks, capping the gains.

First American Trust chief investment officer Jerry Braakman: SOUNDBITE: FIRST AMERICAN TRUST CHIEF INVESTMENT OFFICER JERRY BRAAKMAN (ENGLISH) SAYING: "We're really optimistic that, at least for the next few months here, that from our market perspective, we have a lot of support, both with the Fed action and then actually wrapping up a very better-than-expected earnings season." Energy stocks like Exxon Mobil, Chevron, and Apache were the day's biggest losers on the S&P 500.

Shares of HP and Xerox declined after HP turned the table on its printing rival.

HP rejected Xerox's $33.5 billion offer.

But it's keeping its options open, saying it might instead make its own bid to take over Xerox.

Class="kln">Coty shares rallied.

The cosmetic maker said it'll pay $600 million to buy a majority stake in reality TV star Kylie Jenner's make-up and skincare business.

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