Investing.com – Thursday was a day to wait, one day where investor reluctance to make big games was first and foremost.
The reason, of course, was that President Trump and China President Xi Jinping were to talk about a possible trade deal on Saturday at the G20 Summit in Osaka, Japan. And it was difficult to measure how the calls come out.
As a result, they quit a modest 0.4%. It fell 0.0.4%, held back by news of more trouble getting Boeings (NYSE 🙂 troubled 737 Max jet back in the air. Boeing fell 2.9% and subtracted 74 points from Dow by itself. Boeing is out of 1
It was up with a more robust 0.7%, mainly due to gains for chip stocks and pharmacy chain Walgreens (NASDAQ :).
Investors were disturbed by Larry Kudlow, Trump's financial advisor. Kudlow said the US could impose more tariffs on China if there were no progress. One day earlier, Prime Minister Steve Mnuchin said that a trade agreement was 90% complete. At the same time, The Wall Street Journal reported Thursday no deal was possible before the US lifted its ban on technology sales to telecommunications giant Huawei. The Kudlow comments cut a Dow rally at as many as 71 points to a 10-point loss.
Offset the global trade uncertainty, the small capital stock had a strong day. The Russell 2000 index rose 1.9%. Many of the components are not subject to trade disputes.
The waiter (and uncertainty) expanded to the gold and oil prices, which were little changed. August contract settled down $ 3.40 to $ 1,412 an ounce. finished a Japanese 5 cents to $ 59.43.
Interest rates in the US were mostly lower. The Treasury dividend fell to 2.005% from Wednesday's 2.049%, still at levels seen last autumn 2016.
FedEx (NYSE 🙂 shares moved 2.1% lower after the package shipper announced trade disputes affected the business.
Nike (NYSE 🙂 shares resigned after the Dow component's fiscal fourth quarter, lost lost estimates. However, the earnings of the athletic apparel and equipment machine were higher.
Future trading suggests a similar trading day on Friday.
From Thursday's end, S & P 500 is up 6.3% in June and 3.2% for the second quarter. For the year, the index is up 16.7%. Dow is up 6.9% for the month and 2.3% for the quarter, while the annual gain is 13.7%. Nasdaq is up 6.9% for the month, 3.1% for the quarter and 20% for the year.
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