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Home / Business / Wall St. set to open lower as Trump-Kim summit starts, tensions in India and Pakistan blast by Reuters

Wall St. set to open lower as Trump-Kim summit starts, tensions in India and Pakistan blast by Reuters



© Reuters. Traders working on the NYSE floor in New York

By Shreyashi Sanyal

(Reuters) – Wall Street opened a little lower on Wednesday, and mirrored losses in global markets such as the other North American nuclear core kicked up and the excitement flared up between nuclear weapons neighbors India and Pakistan.

North Korea's leader Kim Jong Un and Donald Trump met in Hanoi, with the US president not going back to US demands for North Korea's nuclear planning. 1

9659004] India and Pakistan both said on Wednesday that they shot down each other's fighter aircraft, one day after Indian war flights first hit Pakistan since the 1971 war, saying the world powers would demand restraint.

"Tension between India and Pakistan weighs on markets this morning before a very busy day," says Peter Cardillo, market economist at Spartan Capital Securities in New York.

"We don't expect (Federal Reserve Chair Jerome) Powell's second round of testimony before the US House Financial Committee is to change, thereby keeping a focus on geopolitical concerns and the Trump-Kim Summit that is likely to lead to a mixed market session. "

Powell said Tuesday that the Fed was in" no rush to make a judgment "on further interest rate changes, and that rising risk and recent soft data should not prevent solid growth for the US economy this year.

Fed are deep signals and optimism around China and the US Trade negotiations have increased stocks in recent weeks, which pushed the reference within about 5 percent of the record high at the end of September

At 8:38, ET was down 41 points or 0.16 percent was down 4.5 points, or 0.16 percent, and was down 15.25 points, or 0.21 percent.

Among the shares, the shares in Mylan (NASDAQ 🙂 NV decreased 9.3 percent in premarket trading by that generic drugmaker missed quarterly profits and estimated weak 2019 revenues, when it encountered significant problems at its factory in Morgantown, West Virginia.

Best Buy Co Inc (NYSE 🙂 jumped 11.6 percent after The consumer electronics dealer beat analysts' quarterly estimates e store sales, while announcing a dividend increase and a share buyback plan

Lowe's Companies Inc increased by 4.6 percent after the US recovery circuit's fourth quarter has won the market.

The Ministry of Commerce will deliver its report on December manufacturer orders at 10:00 ET, which is likely to show an increase of 0.5 percent compared to an unexpected fall in November.

The factory data is ahead of the Commerce Department's fourth fourth quarter-quarter gross domestic product report Thursday, which will include some of the data that would normally enter into the second GDP estimate.

The GDP report can have a big impact on the markets because it becomes the first and second report at the same time because of the government's closure and will be the first watch out of the quarter, said Randy Frederick, Vice President of Trade and Derivatives for [19659018] Charles Schwab (NYSE :).

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