Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.4%), and DJIA (+0.7%) are trending lower as the market enters the final hour of the session. 

The Commerce Department annouced a trade and investment deal with Taiwan, in which Taiwan will provide credit guarantees of at least $250 billion to facilitate additional investment. The U.S. will lower tariffs on Taiwan to 15% from 20% in exchange. The deal also significantly rewards semiconductor companies that invest in U.S. production. 

In a CNBC interview, Commerce Secretary Howad Lutnick said that Taiwan Semiconductor Manufacturing (TSM 342.42, +15.31, +4.68%) could double its amnufacturing size in the U.S. Additionally, Mr. Lutnick doe not anticipate the Taiwanese trade deal, or tariffs on Iran discrupting trade talks with China.