Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

Global Stocks Wobble as Concerns About Trade Talks Mount

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/10/2019 | 06:24am EDT

By Avantika Chilkoti

Global stocks wavered Thursday as speculation about the outcome of trade talks between the world's two largest economies weighed on markets.

U.S. stock futures tied to the Dow Jones Industrial Average flatlined after declining earlier in the day. Investors are concerned that the U.S.-China trade negotiations, set to resume later in the day, may fail to break a five-month stalemate as both sides dialed back expectations in public comments.

Markets have been trying to assess the likelihood of a partial trade deal, concessions by Beijing and a potential delay in additional tariffs by the Trump administration.

"Throughout the course of the week we have had conflicting signals from both sides of the negotiating table," said Matthew Cairns, a senior rates strategist at Rabobank. He pointed to Beijing's move to narrow the scope of the negotiations and the U.S. expansion of its export blacklist, which raised the issue of China's repression of Muslim minorities.

"That is a lot of to-ing and fro-ing from both sides of the negotiating table, which clearly provides little material traction for markets to grab on to," he said.

The Stoxx Europe 600 edged down 0.2%, giving up advances made earlier in the day. In Asia, the Shanghai Composite Index gained 0.8% while Japan's Nikkei 225 rose 0.5%.

Philips Electronics was among the biggest losers in Europe. The stock declined by about 8% in Amsterdam after the Dutch technology company issued a profit warning.

Meanwhile, luxury stock LVMH Moët Hennessy Louis Vuitton gained 4.1% after the company posted better-than-expected revenue growth for the third quarter, despite toughening conditions. Christian Dior, which was acquired by LVMH in 2017, rose 3.4%.

The FTSE 100 index ticked down 0.2%, shedding gains earlier in the day, as fresh data showed that the U.K. economy unexpectedly contracted in August. Investors are monitoring Brexit negotiations closely as Prime Minister Boris Johnson is due to meet Ireland's Leo Varadkar. The pound gained 0.3% against the U.S. dollar.

Later in the day, the U.S. Labor Department is set to publish its consumer-price index, which will shed light on whether inflationary pressures are building in the U.S., a factor Federal Reserve officials consider carefully as they set interest rates. Economists surveyed by The Wall Street Journal forecast the index rose 0.1% in September from the prior month and 1.8% from a year earlier.

Write to Avantika Chilkoti at Avantika.Chilkoti@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHINA-SHANGHAI COMP -1.32% 2938.14 End-of-day quote.17.63%
CHRISTIAN DIOR SE -0.91% 437 Real-time Quote.30.88%
DJ INDUSTRIAL -0.95% 26770.2 Delayed Quote.14.76%
EURO / BRITISH POUND (EUR/GBP) -0.46% 0.862 Delayed Quote.-3.84%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
LVMH MOËT HENNESSY VUITTON SE 0.08% 375.05 Real-time Quote.45.26%
NASDAQ 100 -0.93% 7868.490778 Delayed Quote.25.47%
NASDAQ COMP. -0.83% 8089.54332 Delayed Quote.22.93%
NIKKEI 225 0.18% 22492.68 Real-time Quote.12.18%
S&P 500 -0.39% 2986.2 Delayed Quote.19.12%
STOXX EUROPE 600 -0.32% 391.84 Delayed Quote.16.42%
STOXX EUROPE 600 NR -0.32% 843.61 Delayed Quote.19.59%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
10/18WALL STREET STOCK EXCHANGE : Stocks Drop on China Data
DJ
10/18MARKET SNAPSHOT: Dow Ends Lower Pressured By Boeing, Johnson & Johnson, Despite Good Earnings
DJ
10/18JPMORGAN CHASE, FACEBOOK, COCA-COLA : Stocks That Defined the Week
DJ
10/18WALL STREET STOCK EXCHANGE : Stocks Drop on China Data
DJ
10/18TSX falls 0.30% to 16,377.12
RE
10/18WALL STREET STOCK EXCHANGE : Stocks Waver on China Data
DJ
10/18WALL STREET STOCK EXCHANGE : Stocks Waver on China Data
DJ
10/18EUROPE : String of weak earnings leave European stocks barely up on the week
RE
10/18WALL STREET STOCK EXCHANGE : U.S. Stocks Waver on Earnings, China Data
DJ
10/18LONDON STOCK EXCHANGE : FTSE feels IHG's pain amid caution ahead of Brexit vote
RE
Latest news "Markets"