Major US stock indices closed in positive territory

Major US stocks rose moderately, updating historic highs as Walt Disney Co. stocks rose. (DIS) and Best Buy (BBY) outweighed the fall of Dollar Tree (DLTR) stocks and disappointing US consumer confidence data.

A Conference Board report showed that the consumer confidence index fell to 125.5 in November from a revised upward increase of 126.1 in October. Economists had expected the index to rise to 127.0 from 125.9, which was originally reported the previous month. An unexpected drop in the overall index occurred amid a deterioration in the component of the current situation - to 166.9 from 173.5 in October. "A decline in the current situation index suggests that economic growth in the last quarter of 2019 will remain weak," said Lynn Franco, senior director of economic performance at The Conference Board.

In addition, a report released by the Department of Commerce showed that new home sales in the United States declined slightly in October. According to the report, sales of new homes fell 0.7% to an annual level of 733,000 in October, after rising 4.5% to a revised upwards figure of 738,000 in September. Economists had expected new home sales to rise 1.1% to 709,000 from 701,000 in September, which were originally reported. With a revision upward, sales of new homes in September were at the highest level since reaching 778,000 in July 2007.

Investors also continued to monitor the progress of trade negotiations between the US and China. Beijing said this morning that the negotiators had reached consensus on a number of key issues. A few hours later, White House adviser Kellianne Conway said the parties were “very close to an agreement,” but there were still controversial issues, such as “forced technology transfer, intellectual property theft, and a trade imbalance of half a trillion dollars a year with the second largest economy Peace, China. ”

Most of the DOW components completed trading in positive territory (18 of 30). The biggest gainers were The Walt Disney Co. (DIS; + 1.56%). The outsider was Walgreens Boots Alliance (WBA; -1.62%).

Most S&P sectors recorded an increase. The largest growth was shown by the services sector (+ 0.6 %%). The largest decline was shown in the raw materials sector (-0.7%).

At the time of closing:

Dow 28,120.66 +54.19 +0.19%

S&P 500 3,140.40 +6.76 +0.22%

Nasdaq 100 8,647.93 +15.44 +0.18%