Stocks move lower early Thursday amid new pessimism over U.S.-China trade deal
Stocks opened flat-to-lower Thursday as doubts grew over prospects for a so-called phase one trade deal between the U.S. and China, a day after the Dow Jones Industrial Average and the S&P 500 each eked out a record finish.
What’s driving the market? The prospect of a U.S. - China trade deal remains the main factor sustaining a rally that has pushed U.S. stocks record highs in the past five weeks. The Wall Street Journal reported on Wednesday reported that U.S.-China talks had hit a snag over farm purchases, with Beijing balking at committing to a hard number in the text of the agreement while President Donald Trump has claimed China agreed to buy $50 billion of products a year. News reports have also highlighted a dispute over tariffs, with Beijing said to be insisting that existing tariffs be rolled back while the White House has resisted.
In economic news, U.S. initial claims for unemployment benefits rose 14,000 to 225,000 in the week ended Nov. 9, a nearly five-month high, and above the 215,000 expected by economists surveyed by MarketWatch, but the data may be a seasonal anomaly. Separately, the U.S. October producer-price index rose 0.4% from September, above expectations of 0.3% rise. Excluding volatile food and energy items, wholesale prices rose 0.3% month-over-month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow, S&P 500 notch record closes even as U.S.-China trade concerns dampen gainsU.S. stocks largely closed in positive territory Wednesday, though off session highs, after the Wall Street Journal reported that U.S.-China trade talks have...
Read more »
Disney lifts Dow, S&P 500 to records while trade tensions cast shadowThe Dow Jones Industrial Average and the S&P 500 posted record closing highs on ...
Read more »
S&P 500 ekes out gain after Trump trade remarksThe S&P 500 and Nasdaq up after Trump tells crowd at the Economic Club of New York that the U.S. is close to signing an initial trade deal with China
Read more »
After nailing a call for a pullback in June, Canaccord’s Dwyer predicts another S&P 500 slideCannacord Genuity strategist Tony Dwyer is once again predicting an S&P 500 retracement. He explains why.
Read more »
Jeremy Siegel: The S&P 500 will see at least a '10% pop' on US-China trade settlementThe Wharton School professor said the trade war is more important to the stock market than potential Federal Reserve decisions.
Read more »
Dow closes at record high as Disney pops more than 7%The Dow hit an all-time high on Wednesday as Disney shares popped after its streaming service got more than 10 million sign-ups. The S&P 500 closed at a record high, up 0.1%, while the Nasdaq hovered below the flatline.
Read more »