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Stocks- Wall Street Mixed After U.S.-North Korea Summit

Wall Street struggles for direction.

Investing.com – Wall Street was mixed after the morning bell as investors digested news that the U.S. and North Korea had signed a denuclearization deal.

The S&P 500 was up three points or 0.13% to 2,785.64 as of 9:43 AM ET (13:43 GMT) while the Dow composite decreased four points or 0.02% to 25,317.56 and tech heavy NASDAQ Composite fell 23 points or 0.30% to 7,683.15.

U.S. President Donald Trump and North Korea leader Kim Jong Un signed a four-step agreement on Tuesday in an unprecedented summit in Singapore. The two leaders agreed to work towards a denuclearized Korean peninsula while Trump promised to end joint military exercises with South Korea.

Many experts were unimpressed however, saying the agreement lacked solid commitment by Pyongyang and that it was vague.

The Federal Reserve’s two-day policy meeting starts on Tuesday, with an interest rate decision slated for tomorrow at 2:30 PM ET (18:30 GMT). There’s a 92% expectation from investors that the Fed increase rates by 25 basis points.

Twitter Inc (NYSE:TWTR) was among the top gainers, jumping 4.35% after JPMorgan (NYSE:JPM) raised the price target of the social media site. Tesla (NASDAQ:TSLA) was up 2.59% while McDonald’s Corporation (NYSE:MCD) inched up 0.27% in anticipation of its organization restructure.

Meanwhile Dave & Buster’s Entertainment (NASDAQ:PLAY) surged 15.39% after its earnings beat estimates.

Elsewhere Advanced Micro Devices Inc (NASDAQ:AMD) fell 1.31% while Visa Inc (NYSE:V) inched down 0.07%.

In Europe stocks were mixed. Germany’s DAX rose 26 points or 0.21% while in France the CAC 40 decreased six points or 0.13% and in London, the FTSE 100 was down 16 points or 0.21%. Meanwhile the pan-European Euro Stoxx 50 gained two points or 0.08% while Spain’s IBEX 35 rose 40 points or 0.41%.

In commodities, gold futures fell 0.11% to $1,301.80 troy ounce while crude oil futures decreased 0.18% to $65.98 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.03% to 93.59.

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