· U.S. stocks ended little changed on Wednesday as a report the U.S.-China trade deal could be delayed until December was offset by gains in healthcare shares.
The Nasdaq broke a three-day string of record closing highs, and the Dow barely snapped its two-day run of record highs.
The Dow Jones Industrial Average .DJI fell 0.07 points to 27,492.56, the S&P 500 .SPX gained 2.16 points, or 0.07%, to 3,076.78 and the Nasdaq Composite .IXIC dropped 24.05 points, or 0.29%, to 8,410.63.
A senior official of the Trump administration told Reuters a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December, as discussions continue over terms and a venue.
That renewed worries over how long the trade war may continue and caused stocks to trade lower briefly.
· European markets edged cautiously higher on Wednesday as investors continue to await direction on U.S.-China relations and react to corporate earnings.
The pan-European Stoxx 600 was provisionally closed 0.12% higher, with stocks in the baskets of autos, construction and basic resources struggling the most. Chemicals and food & beverages logged positive gains.
The FTSE 100 in London closed almost exactly flat for the day at 7387.
· Shares in Asia Pacific were mixed in Thursday morning trade amid reports of a potential delay in the signing of a U.S.-China trade deal.
In Japan, the Nikkei 225 slipped 0.11% while the Topix index dipped fractionally. Shares of Softbank Group dropped more than 3% after the Japanese conglomerate announced its first quarterly loss in 14 years on Wednesday. Meanwhile, automaker Toyota is expected to report its quarterly earnings later in the day.
South Korea’s Kospi slipped 0.24%, as shares of industry heavyweight Samsung Electronics shed 1.13%. Australia’s S&P/ASX 200 advanced 0.51%, ahead of trade data for September, which is expected to be released at about 8:30 a.m. HK/SIN.
Overall, the MSCI Asia ex-Japan index dipped fractionally.
Investors watched for market reaction to overnight developments on U.S.-China trade, following reports that U.S. President Donald Trump and Chinese President Xi Jinping may not meet to sign a trade deal until December.
The meeting between Trump and Xi could be pushed back as the two sides still need to decide on the terms and a venue, a senior administration official told CNBC. Trump is scheduled to be in London for a gathering of NATO leaders on Dec. 3 - 4, and a potential signing could happen nearby before or after that visit, people close to the talks told CNBC. Reuters first reported the meeting postponement.
Those developments came after the Asia-Pacific Economic Cooperation summit in Chile, originally scheduled for later this month, was canceled due to protests in the country. Trump and Xi were scheduled to meet at the summit to discuss and potentially sign a “phase one” deal.
Reference: Reuters, CNBC
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