Stocks erase most gains after Gundlach sees no trade deal with China before presidential election

The Big 3 stock market indexes erased the bulk of their gains in morning trading Thursday, afterDoubleLine Chief Executive Jeffrey Gundlach said he didn’t believe there will be a U.S.-China trade deal before the U.S. presidential election. The Dow Jones Industrial Average

DJIA, +0.40%

was recently up 26 points, after being up as much as 159 points earlier in the session. The S&P 500

SPX, +0.44%

pared earlier gains of as much as 0.6% to be up just 0.2%, and the Nasdaq Composite

COMP, +0.60%

was up as much as 0.9% at its intraday high but was recently up just 0.4%.

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