Stock Rally Fizzles As Hopes For End To US-China Trade Dim
Faizan Hashmi 25 days ago Sat 21st September 2019 | 11:42 AM
A rally on hopes for progress in the US-China trade war fizzled late Friday, sending Wall Street into the red after bourses elsewhere had drifted higher earlier in the day
New York, (UrduPoint / Pakistan Point News - 21st Sep, 2019 ):A rally on hopes for progress in the US-China trade war fizzled late Friday, sending Wall Street into the red after bourses elsewhere had drifted higher earlier in the day.
A delegation of Chinese officials on Friday abruptly canceled hastily-scheduled visits to farms Nebraska and Montana.
While mid-level trade talks continued uninterrupted in Washington, the visits' sudden cancelation spooked investors on Wall Street, sending all three major indices in the red.
US stocks fell for the week after three straight weeks of gains.
The pound was mixed despite even though Britain claimed momentum in talks on a Brexit deal and European Commission chief Jean-Claude Juncker's appeared to hint that one was still possible, before the deadline at the end of October.
Nevertheless sterling it was solidly higher compared with a week ago, which did not help shares of international companies listed on the London Stock Exchange. The blue-chip FTSE 100 index fell.
London sentiment was buoyed Friday after Royal Bank of Scotland appointed long-serving banker Alison Rose as chief executive, making her the first female boss of a major UK lender.
- Key figures around 2100 GMT - New York - Dow: DOWN 0.6 percent at 26,935.07 (close) New York - S&P 500: DOWN 0.5 percent at 2,992.07 (close) New York - Nasdaq: down 0.8 percent at 8,117.67 (close) London - FTSE 100: DOWN 0.3 percent at 7,337.11 points (close) Frankfurt - DAX 30: UP less than 0.1 percent at 12,468.01 (close) Paris - CAC 40: UP 0.6 percent at 5,690.78 (close) EURO STOXX 50: UP 0.5 percent at 3,571.39 (close) Tokyo - Nikkei 225: UP 0.2 percent at 22,079.09 (close) Hong Kong - Hang Seng: DOWN 0.1 percent at 26,435.67 (close) Shanghai - Composite: UP 0.2 percent at 3,006.45 (close) Euro/dollar: DOWN at $1.1021 from $1.1041 at 2100 GMT Dollar/yen: DOWN at 107.56 yen from 108.02 yen Pound/dollar: DOWN at $1.2476 from $1.2526 Euro/pound: UP at 88.33 pence from 88.15 penceBrent North Sea crude: DOWN 0.2 percent at $64.28 per barrelWest Texas Intermediate: DOWN 0.1 percent at $58.09.