The London Stock Exchange uses cookies to improve its website. The cookies for analytical purposes have already been set. For more details and how to manage cookies, please see our privacy and cookies policy.

Alliance News Detail


Major Averages Lingering Near Unchanged Line - US Commentary

[ 11 Feb 2019 17:01 ]

WASHINGTON (Alliance News) - After failing to sustain an initial upward move, stocks have shown a lack of direction over the course of the trading session on Monday. The major averages are turning in another mixed performance after ending last Friday's trading on opposite sides of the unchanged line.

Currently, the Dow is down 39.57 points or 0.2% at 25,066.76, while the Nasdaq is up 9.42 points or 0.1% at 7,307.61 and the S&P 500 is up 0.17 points or less than a tenth of a % at 2,708.05.

The choppy trading on Wall Street comes amid uncertainty ahead of the next round of trade talks between the US and China due to take place later this week.

Treasury Secretary Steven Mnuchin will lead the US delegation to Beijing as the world's two largest economies seek to reach a trade deal before an early March deadline.

A report from Axios said President Donald Trump's advisers have informally discussed holding a summit with Chinese President Xi Jinping at Mar-a-Lago next month.

Two administration officials with direct knowledge of the internal discussions told Axios the meeting could come as soon as mid-March but stressed that nothing is set.

The report comes after Trump confirmed last week that he would not meet with Xi ahead of the deadline, when a jump in tariffs on Chinese goods is currently set to take effect.

Trump could delay the tariff increase if the talks between US and Chinese officials continue to make progress toward a trade deal.

A lack of major US economic data has also kept traders on the sidelines, although reports on consumer and producer price inflation, import and export prices and industrial production are likely to attract attention in the coming days.

Most of the major sectors continue to show only modest moves in mid-day trading, contributing to the lackluster performance by the broader markets.

Transportation, oil service and networking stocks are seeing some strength on the day, while weakness is visible among pharmaceutical and tobacco stocks.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance on Monday, with the Japanese markets closed for a holiday. China's Shanghai Composite Index surged up by 1.4%, while Australia's S&P/ASX 200 Index dipped by 0.2%.

Meanwhile, the major European markets all moved to the upside on the day. While the UK's FTSE 100 Index advanced by 0.8%, the German DAX Index and the French CAC 40 Index jumped by 1% and 1.1%, respectively.

In the bond market, treasuries are giving back ground after trending higher over the past few sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.5 basis points at 2.657%.

Copyright RTT News/dpa-AFX


Major Averages Lingering Near Unchanged Line - US Commentary - Alliance News

The Exchange accepts no responsibility for the content of the website you are now accessing or for any reliance placed by you or any person on the information contained on it.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds.

You are accessing the London Stock Exchange Annual Report Service powered by PrecisionIR.

The Exchange accepts no responsibility for the content of the reports you are now accessing or for any reliance placed by you or any person on the information contained therein.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds