By Shreyashi Sanyal and Amy Caren Daniel
(Reuters) – Wall Street rose briefly on Thursday, when the US and China trade negotiations went on Once, however, a decline in quarterly GDP growth exacerbated the fear of an economic downturn and kept a lid on gains.
Domestic economy delayed more than originally thought in the fourth quarter, and kept growth in 201
"Immediately, financial concerns are ahead of center and investor center. They were particularly confident that the United States is strong, but now there is doubt about creeping in," said Rick Meckler, partner at Cherry Lane Investments in New Jersey.
Growth concerns hit Wall Street last week when the Federal Reserve abandoned forecasts for any interest rate hikes this year and US Treasury yield curve inverted for the first time since 2007.
However, with investors beginning to adapt to a dovish pivot from global central banks, rose the benchmark portfolio for 10 years with a 15-month decline on Thursday. [US/]
This contributed to the interest-rate-sensitive financial sector increasing 0.45 per cent, while the banking sector increased 0.68 per cent.
At the same time, investors are also focusing on the progress of trade negotiations between the United States and China as top US officials leading a Trade Negotiation Delegation arrived in Beijing.
Reuters reported that China has made outstanding issues about a number of issues, including forced technology transfer, while a Bloomberg report said the US could raise some tariffs on China while leaving others in place as part of a trade agreement enforcement mechanism.
"It seems very unlikely that the trade issues will be resolved very quickly. They have indicated that they have made progress so many times, it is a situation where investors want more concrete than just talking about progress," says Meckler. 19659004] At 9:47 am EDT was 70.07 points, or 0.27 percent, at 25,695.66, up 7.24 points, or 0.26 percent, at 2,812.61, and it was 13.48 points, or 0 , 18 percent, at 7,656.86.
Consumer discretionary shares increased 0.46 percent, giving the largest increase to the markets
PVH Corp NYSE 🙂 rose 17.6 percent, mostly among S & P 500 companies , after the clothing manufacturer forecasts year-round adjusted profits and sales over Wall Street expectations.
Nielsen Holdings Plc fell 9.2 percent, mostly among S&P 500 companies, following a report by the private equity firm Blackstone (NYSE 🙂 Group supported by an auction to buy the valuation company.
Progress issues exceeded decl iners with a ratio of 2.62 to 1 on the NYSE and with a 1.94 to 1 ratio on the Nasdaq.
The S&P index recorded 15 new 52-week highs and a new low while Nasdaq recorded 24 new heights and 17 new downs.