· U.S. stocks fell on Thursday as conflicting tones surrounding a possible trade deal between the United States and China eclipsed strong earnings reports from Apple and Facebook.
The Dow Jones Industrial Average .DJI fell 140.46 points, or 0.52%, to 27,046.23, the S&P 500 .SPX lost 9.21 points, or 0.30%, to 3,037.56 and the Nasdaq Composite .IXIC dropped 11.62 points, or 0.14%, to 8,292.36.
· Mixed signals around trade gave investors reason for caution after a Bloomberg report said Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and U.S. President Donald Trump.
But Trump later said the two countries would soon announce a site where a “Phase One” trade deal will be signed after Chile canceled a planned summit set for mid-November that was to be the venue for a signing.
The Labor Department’s October jobs data on Friday will be closely watched after the Fed signaled on Wednesday there would be no further cuts unless the economy takes a negative turn.
· European stocks reversed early gains to trade lower Thursday after a report that Chinese officials are doubting the possibility of a long-term trade agreement with the U.S.
The pan-European Stoxx 600 was down 0.3% during afternoon trade, with the China-exposed basic resources and automotive sectors each tumbling more than 1%. Oil and gas stocks shed 1.2%, meanwhile, after results from Royal Dutch Shell. Travel stocks were the strongest performers, adding 1.2% as most sectors slid into the red.
· Stocks in Asia were mixed in Friday morning trade amid renewed concerns over the potential for a long-term trade deal between China and the U.S.
Japan’s Nikkei 225 declined 0.79% in early trade, while the Topix index shed 0.6%. Shares of gaming firm Nintendo surged more than 4%, after the company announced on Thursday a second-quarter profit that exceeded expectations.
Meanwhile, South Korea’s Kospi advanced 0.1%. The S&P/ASX 200 in Australia slipped 0.26% as the sectors were mixed.
Reference: CNBC, Reuters
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