Disney lifts Dow, S&P 500 to records while trade tensions cast shadow

FILE PHOTO: A man looks at his phone as he passes by a screen advertising Walt Disney's streaming service Disney+ in New York City, U.S., November 12, 2019. REUTERS/Brendan McDermid

NEW YORK: The Dow Jones Industrial Average and the S&P 500 posted record closing highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over U.S.-China trade relations.

The Wall Street Journal reported during the session that U.S.-China trade negotiations have hit a snag over farm purchases, the latest development in a dispute between the two countries that has convulsed markets for more than a year.