Stocks Open Lower on Trade Jitters
14 Noviembre 2019 - 9:08AM
Noticias Dow Jones
By Caitlin Ostroff
U.S. stocks opened lower Thursday as concerns over U.S.-China
trade negotiations and weak Chinese economic data weighed on
investors.
The Dow Jones Industrial Average was down 12.62 points, or
0.05%, and the S&P 500 was down 2.15 points, or 0.07%. The
Nasdaq composite fell 17.52 points, or 0.21%.
Global stocks were down. The Stoxx Europe 600 fell 0.2%, with
the trade-sensitive auto sector down 0.9%. The U.K.'s FTSE 100
dipped 0.5% and the German DAX fell 0.5%.
Cisco Systems Inc. saw shares tumble 5.7% in off-hours trading
after the technology company Wednesday projected its first
quarterly revenue decline in more than two years. In premarket
trading, Walmart Inc. climbed 1.7% after the retail giant reported
Thursday that sales from stores and websites operating for at least
12 months rose 3.2%, extending a four-year streak of quarterly
sales gains. Shares of Dillard's Inc. rallied 7.7% as the company
posted a surprise profit for its third quarter.
In Europe, shares of Mercedes-Benz maker Daimler AG fell 3.4%
after it said Thursday that it plans to cut jobs and slash
personnel costs to offset expenses required to lower car emissions.
Luxury apparel maker Burberry Group shares rose 2.4% after it beat
expectations in first-half earnings, adding to the broad rebound in
luxury stocks this year.
The latest economic data out of China showed fresh signs of
weakness, with disappointing numbers in industrial output,
household consumption and fixed-asset investment. The figures added
to evidence that the world's second-largest economy is broadly
slowing -- as consumer inflation accelerates. The data follows a
Wall Street Journal report that trade talks between the U.S. and
China have hit a snag over farm purchases.
Investors are struggling to get a grip on where the trade talks
stand or what a possible trade deal between the U.S. and China
might include.
"Markets can't even define what they're looking for right now,"
said Geoffrey Yu, head of the U.K. investment office at the
wealth-management arm of UBS.
Investors reached for haven assets, with the Japanese yen up
0.2% against the dollar. Gold appreciated 0.4% and government bond
yields fell. The yield on the 10-year German bund fell to minus
0.330% from minus 0.297% Wednesday afternoon. The U.S. 10-year
Treasury slid to 1.836% from 1.870% Wednesday. Yields fall when
prices rise.
Asian stocks were mixed, with the Shanghai Composite up 0.2%
while Hong Kong's Hang Seng waned 0.9% as antigovernment protests
snarled the city. Clashes between police and protesters have
intensified in recent days. Japan's Nikkei 225 fell 0.8% following
weaker-than-expected third-quarter gross domestic product data, and
Korea's Kospi gained 0.8%.
In Turkey, the lira weakened 0.4% against the dollar after a
long-awaited meeting Wednesday between President Trump and Turkey's
President Recep Tayyip Erdogan. The talks didn't yield a resolution
to issues that have divided the two nations, including Turkey's
purchase of a Russian air-defense system and the U.S. partnership
with the Kurdish-led Syrian Democratic Forces.
The number of U.S. workers applying for first-time unemployment
benefits rose to the highest level in four months last week, the
Labor Department said Thursday. Federal Reserve Chairman Jerome
Powell will testify in front of the House Budget Committee
later.
Write to Caitlin Ostroff at caitlin.ostroff@wsj.com
(END) Dow Jones Newswires
November 14, 2019 09:53 ET (14:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Cisco Systems (NASDAQ:CSCO)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Cisco Systems (NASDAQ:CSCO)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024