Stocks will try to regain their mojo next week as China and the U.S. hold long-awaited trade negotiations in Washington.
slid about 0.3%. Overall, the two averages posted their first three-week losing streak since August.
"Trade talks are crucial, not just for the U.S., but globally," said Quincy Krosby, chief market strategist at Prudential Financial. "The conclusion from central bankers, CEOs and CFOs is we're slowing down."The Institute for Supply Management said Tuesday that U.S. manufacturing activity contracted to its. This data sparked a two-day sell-off in which the Dow dropped more than 800 points. ISM Chair Timothy Fiore said trade "remains the most significant issue.
But Peter Berezin, chief global strategist at BCA Research, warned signs of progress are crucial for the market moving forward. "Markets have entered a 'show me' phase," he said in a note to clients.
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