· U.S. stock indexes moved slightly lower on Thursday as investors moved to the sidelines with mixed messages and no concrete signs of progress on U.S.-China relations.
The Dow Jones Industrial Average .DJI fell 54.80 points, or 0.2%, to 27,766.29, the S&P 500 .SPX lost 4.92 points, or 0.16%, to 3,103.54, and the Nasdaq Composite .IXIC dropped 20.52 points, or 0.24%, to 8,506.21.
While the number of Americans seeking unemployment benefits was unexpectedly unchanged at a five-month high last week, suggesting some labor market softening, U.S. home sales increased more than expected in October and house prices rose at the fastest pace in more than two years amid lower mortgage rates and a supply shortage.
The U.S. House of Representatives passed two bills to back protesters in Hong Kong and send a warning to China about human rights, a measure that angered Beijing.
But China still invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing, the Wall Street Journal reported, citing unidentified sources.
This was a day after stocks sold off on a report that a phase 1 U.S.-China deal was not likely to happen this year. As a result, investors were wary of putting further bets on a trade deal and keeping in mind that stocks are still near record highs.
· European stocks closed lower on Thursday as Sino-U.S. relations came under strain over Hong Kong, fueling concerns a “phase one” trade deal between the two powerhouses may be pushed into 2020.
The pan-European Stoxx 600 was 0.4% lower at the closing bell, with almost every sector and all major bourses in negative territory. Basic resources, a sector heavily exposed to China, slipped 1.5% to lead losses, while autos stocks bucked the trend to end the session above the flatline.
· Stocks in Asia steadied in Friday morning trade following days of declines this week amid U.S.-China trade confusion.
The Nikkei 225 rose 0.18% in early trade while the Topix index was fractionally higher.
In South Korea, the Kospi was largely flat. Shares of Hankook Tire & Technology slipped more than 0.5% after the company’s CEO was arrested on Thursday on charges including allegations of taking bribes, Reuters reported citing Yonhap News Agency.
Markets have had a rocky trading week amid mixed headlines on U.S.-China trade.
Reference: CNBC, Reuters
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