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Stocks edge lower after Trump's EU address



The stocks withdrew Wednesday, threatening to get a five-day winning strike for the S&P 500, after President Donald Trump insisted that China commit real structural reforms before a trade can be reached.

He also called Congress to pass the infrastructure legislation, but gave little details, while pushing for his demand for financing for a southern border wall.

What are large indexes?

Dow Jones Industrial Average

DJIA, -0.29%

dropped 31

points or 0.1% to 25,378, while the S & P 500 index

SPX, -0.28%

recalled 4 points or 0.1% to sit on 2,734. Nasdaq Composite Index

COMP, -0.29%

decreased 8 points or 0.1% at 7.394.

What drives the market?

Trump said in his EU state on Tuesday night that he had "great respect" for Chinese President Xi Jinping, adding that the two leaders are working on a new trade agreement while insisting that any agreement "includes real structural changes to end unfair trading practices, reduce our chronic trade deficits and protect US jobs."

In an interview with CNBC on Wednesday morning, State Secretary Steven Mnuchin confirmed that he and US trade representative Robert Lighthizer and State Secretary Steven Mnuchin will travel to Beijing next week to continue negotiations on the continuing trade dispute when the administration – introduced the March 1 deadline for an agreement approach, after which the president threatened to expand tariffs for Chinese imports.

Read: Trump stops short of cross-border distress and omits infrastructure information in the Union state

Mnuchin said "there is still much work to be done" before an agreement can be reached, but also stressed that the two parties have made "great progress" in recent days, especially over enforcement mechanisms to ensure that China complies with the letter in any future agreement.

The president also promised to set up a proposed border wall, but stopped briefly to declare a national emergency. Investors are aware of negotiations around the wall with a stopgap compromise that reopened the government last month after a 35-day partial shutdown due to run in an hour and a half.

Trump called for lower prescription drug costs. He also repeated a call to an infrastructure plan, but unlike last year, he did not appreciate it.

See: & # 39; Absolutely Outrageous & # 39; and "Good Work": Which Legislators Say About Trump's EU Address

Investors continue to break through corporate earnings while taking an expected slowdown in growth in stride. A sensible end to the Federal Reserve last week, and optimism about the prospects for a US-China trade agreement has been credited to provide a strong downturn for stocks after a fourth quarter.

Check out: Time for stock market investors to shake off the 3rd recession scare & # 39; of the bike, says analyst

What shares are in focus?

Shares of Snap Inc ].

+ 22.28%

increased 23% early Wednesday after posting quarterly profits after Wednesday's closing bell and narrowing its losses on the back of a boom in online advertising. Walt Disney Co. . stock

DIS, -0.26%

advanced 0.9% Wednesday morning. The entertainment giant reported stronger than expected holiday earnings on Tuesday night.

Shares of General Motors Co .

GM, + 1.70%

is 3.1% after the automaker has beaten Wall Street expectations for the fourth quarter revenue and profits.

Shares of Electronic Arts Inc .


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