The markets started the day higher as investors welcomed the apparent easing of tensions between the US and China. The positivity faded by lunch time once a report surfaced that President Trump still wants to move forward with another $200 billion worth of tariffs. The markets turned mostly lower, with the Dow closing up only 8, the S&P 500 flat, and the Nasdaq 100 down 3.

Sector News

Semiconductor stocks enjoyed another mostly positive day today as they began to recover from the recent sell-off. A report that China would be willing to meet about tariffs sent the chipmakers higher at first. Many of the chipmakers get sizable portions of their sales from China; an end to the trade war would give them relief.

Banking stocks enjoyed a decent day today after not participating in much of the market rally this week. After the Fed announced that it may not raise rates at a faster pace, the bank stocks have had a hard time attracting the bulls. Technical traders will note the XLF is holding on the 200-day moving average for now. Regional banks (KRE  ) also recovered from some of this week's declines.

Stock News

Adobe (ADBE  ) broke out to new highs today, adding 2% and reporting earnings well above Wall Street expectations. The company also reported revenue that was better than anticipated. The only blemish on the report was guidance, which was not raised, but kept in line with what Wall Street was expecting. Analysts noted that a mid-quarter raise could help further boost share prices.

Limited Brands (LB  ) shares rose 4% today as the company announced cost-cutting measures, including closing all of its Henri Bendel stores after the holiday season. Shares have been under pressure as the brand attempts to adjust to the lack of brick and mortar shoppers. Shares have lost over 50% this year alone.

Hasbro (HAS  ) shares popped over 1% today as the company was added to the Jefferies "Franchise Pick" list. Jefferies thinks the toy maker could see their stock jump by 50% in the next one to two years thanks to a brand and content pipeline adding to their cash flow. Shares are trading near yearly highs.