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Stocks edge lower by Trump's EU address



Stocks retired Wednesday, threatening to obtain a five-day winning knit for the S&P 500, after President Donald Trump insisted that China commit real structural reforms before a trade deal can be reached.

He also urged Congress to pass the infrastructure legislation, but gave little detail, while pressing the demand for funding into a southern border.

What are large indexes?

Dow Jones Industrial Average

DJIA, -0.30%

fell 31 points, or 0.1

% to 25.378, while the S&P 500 index

SPX, -0.28%

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

COMP, -0.29%

fell 8 points, or 0.1%, at 7394.

What drives the market?

In his EU state, Tuesday night, Trump said he had "Great respect" for Chinese President Xi Jinping, adding that the two leaders are working on a new trade agreement, while insisting that every deal "includes real , structural changes to stop unfair commercial 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 continued trade conflict, when the administration – imposed on March 1 the deadline for an agreement approach, after which the president threatened to expand tariffs on Chinese imports.

Read: Trump stops short of border outbreaks and omits infrastructure details in the EU state

Mnuchin said "there is still a lot of work to do" before an agreement can be reached, but also stressed that the two parties has made "a lot of progress" in recent days, especially over enforcement mechanisms to ensure China's compliance with the letter of any future agreement.

The president also promised to build a proposed border wall, but stopped briefly to declare a national emergency. Investors emphasize wall negotiations, with a stop compromise that opened the government last month after a 35-day partial closure due to running out of an hour and a half.

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

See: "Totally outrageous" and "good job": Which lawmakers say about Trump's EU address

Investors continue to wade through corporate earnings while taking a significant expected decline in earnings growth in step length. A tough hit by the Federal Reserve last week, and optimism over the prospect of a US-China trade deal being credited to provide a strong stockpile after the fourth quarter.

Check out: Time for stock market investors to tear off the 3. disease cleansing of the cycle, analyst says

What shares are in focus?

Shares of Snap Inc ].

+ 22.30%

increased 23% early Wednesday after posting quarterly earnings after Wednesday's closing clock and reduced the loss 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 revenue on Tuesday night.

General Motors Co. .

GM, + 1.78%

is up 3.1%, after the automaker hit Wall Street expectations for the fourth quarter sales and profits.

Stocks of Electronic Arts Inc .

EA, -14.61%

protrudes nearly 15% after the company missed the holiday season estimates and issued an accident.

Rival Take Two Interactive Holdings

TTWO, -12.76%

also reported weaker than expected results in the fourth quarter on Wednesday morning, with the company's reporting revenues far below the Wall Street expectations. The shares are down 11.3%. Eli Lilly & Co .

-1.39%

shares fall 0.3% after drugmaker reported fourth quarter earnings falling below Wall Street expectations while cutting its full year forecast 2019.

Boston Scientific Corp .

BSX, + 0.48%

share rose 1.4% early Wednesday after the company issued its fourth-quarter earnings report on Wednesday morning showing the company's top-notch earnings and sales forecasts.

Shares of Capri Holdings Ltd .

CPRI, + 10.22%

increases 11.2%, after Michael Kors and Versace's parent reported a third-quarter financial income that hit expectations.

Engine maker Cummings Inc .

The CMI, -2.15%

share is down 2%, after the firm lost Wall Street earnings expectations for the fourth quarter.

What are analysts say?

Analysts said there was little for investors to unlock in the Union state address, although comments on infrastructure and drug prices may have some influence.

"It is difficult to see how much two-sided compromise is possible in a year when a crowded field is running for president, but drug and construction subsectors may see moves tomorrow as investors consider how likely the former will be negatively affected and the latter will be positively impacted, says Chris Zacarelli, investment manager for the Independent Investor Alliance.

What data and speakers are in focus?

US Productivity productivity increased 1.3% in the fourth quarter, up from 1.1% growth in the third quarter Data on general productivity growth has not yet been released, due to the slow effects of the government's closure.

The US trade deficit in November fell to $ 49.3 billion, below the October level of $ 55.5 billion in October, and consensus expectation of $ 53.7 billion, per MarketWatch economist survey.

at Eastern Time, Federal Reserve Vic e President Randal Quarles will decide a speech at the Fed's stress test conference.

Chairman Jerome Powell will present short, opening recommendations at a teacher's room at the Federal Reserve at 7pm. ET.

How did the big goals go yesterday?

On Tuesday, S & P 500 rose 12.83 points in the end to 2,737.70, a gain of 0.5%, and expanded its winning line to five sessions. Dow rose 172.15 points, or 0.7%, to 25.411.52, for his third straight win. The Nasdaq Composite ended with 54.55 points higher, up 0.7%, at 7.402.88, for back-to-back gains.

How do other markets trade?

Japanese stocks rose in Wednesday trading, with the Nikkei 225 index

NIK, + 0.14%

closes 0.3% higher. Markets in Hong Kong, mainland China and most of Southeast Asia were closed for Lunar New Year holidays.

European shares are traded mixed with Stoxx Europe 600

SXXP, + 0.17%

up 0.1%, while FTSE 100

UKX, -0.15%

is down 0.3%. France's CAC 40

PX1, -0.10%

and Germany's DAX

DAX, + 0.00%

has lost ground in Wednesday's deal.

In commodity markets, crude oil

CLH9, -0.61%

coincided with the price of gold

GCH9, -0.20%

US Dollar

DXY, + 0.12%

meanwhile, was edged higher in the day.


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