Ending Soon! Save 33% on All Access

Twitter and Tech Stocks Buoy a Flat Stock Market, Despite U.S.-China Trade Uncertainty Twitter had the biggest gain on the Entrepreneur Index™, rising 2.95 percent.

By Andrew Osterland

Opinions expressed by Entrepreneur contributors are their own.

NurPhoto | Getty Images

Deal or no deal?

Treasury Secretary Steve Mnuchin gave an ambiguous read of the U.S.-China trade talks today as they resume in Beijing this week. He said that "the talks are nearing a point where they would either produce a deal or end with no agreement," according to a New York Times report.

Investors didn't seem phased by the uncertainty. Strong March consumer spending data released this morning confirmed the resilience of the U.S. economy and the stock market continued to rise into uncharted territory. The S&P 500 and Nasdaq Composite indexes were up 0.11 percent and 0.19 percent respectively, breaking above record highs set last week. The Dow index, up 0.04 percent today, remains slightly below its all-time high.

Good gains in the technology sector couldn't overcome weakness across many sectors, leaving the Entrepreneur Index™ with a small loss of 0.01 percent today.

Twitter had the biggest gain on the index, rising 2.95 percent. Facebook (1.31 percent) and Adobe Systems Inc. (1.53 percent) were also up nicely. Amazon (-0.6 percent) and Netflix (-0.81 percent) had notable declines. Alphabet Inc., up 1.47 percent, set a new 52-week high today. The stock, however, was down in post-close trading after the company reported financial results.

Tesla shares rebounded sharply after dropping to their lowest level in two years last week. Up 2.69 percent today, they are down 27.4 percent this year and hit a 52-week low last Friday. CEO Elon Musk and the SEC settled their dispute over Mr. Musk's tweeting habits last week. In a filing with the SEC, the company also suggested it would be looking to raise more capital.

Other good gains on the Entrepreneur Index™ today included conglomerate Loews Corp. (1.49 percent), Fedex Corp. (1.41 percent) and Cerner Corp. (1.23 percent).

The REIT sector was generally weak as interest rates ticked up on the strong consumer spending report. Kimco Realty Corp. (-2.75 percent) had the biggest decline on the Entrepreneur Index™. Simon Property Group (-1.6 percent) was also down sharply.

Asset manager Franklin Resources fell 2.65 percent today. Despite the fund company beating earnings and revenue estimates on Friday, the stock price has been dropping. The shares are still up 15.2 percent this year.

Other losses on the day included medical products-maker Boston Scientific Corp. (-1.74 percent), pipeline manager Kinder Morgan (-1.83 percent) and hospital manager Universal Health Services (-1.56 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.


How to Break Free From the Cycle of Overthinking and Master Your Mind

Discover the true cost of negative thought loops — and practical strategies for nipping rumination in the bud.

Business Solutions

This is Your Last Chance to Get Microsoft Office for $25

Lock in a lifetime of access to 2019's Word, Excel, PowerPoint, and more favorites for your business.

Growing a Business

It's Time to Prioritize Regular Performance Reviews — Here's Why Reviews Are Essential for Employee and Company Growth

Regular check-ins, focused discussions about goals and progress and constructive feedback build a thriving work environment.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

How to Find the Right Programmers: A Brief Guideline for Startup Founders

For startup founders under a plethora of challenges like timing, investors and changing market demand, it is extremely hard to hire programmers who can deliver.