Wall Street Treads Water Amid US-China Trade Confusion
Umer Jamshaid Published December 13, 2019 | 09:55 PM
US stocks wobbled at the open on Friday, with investors unsure which way to turn as optimism over a US-China trade deal once again turned to hazy uncertainty
The cautious open followed Thursday's rally, which was driven by media reports Washington and Beijing had at last struck a partial deal to avert a fresh round of tariffs that are due to kick in on Sunday and de-escalate their trade war.
But a White House briefing late Thursday never materialized and Chinese officials have so far not confirmed any deal.
A media briefing in Beijing was scheduled to occur just as trading began in New York at 1430 GMT but this was again delayed, indicating developments remained very much in flux.
About 10 minutes into the day's trading, the benchmark Dow Jones Industrial Average and tech-heavy Nasdaq were both flat at 28,125.16 and 8,720.90.
Meanwhile, the broader S&P 500 was down about a tenth of a percent at 3,167.03.
"There is an acute awareness that none of the folks in power to confirm the reported trade deal have confirmed it yet," analyst Patrick O'Hare wrote at Briefing.com.
Among individual companies, Oracle and Broadcom were each down around three percent on fading hopes for the sales outlook.
Related Topics
Recent Stories
Traffic Police launch cracks down on tinted glasses
Condolence reference held in memory of FBR's officials
Court aims to wrap Trump jury selection ahead of opening arguments
Sindh Minister for Industries and Commerce, Jam Saifullah Dharejo for improving ..
Croatia top court bars president from becoming next PM
Pakistan all set to face New Zealand tomorrow
Abdullahpur-Jhumra road flyover to be ready shortly: FDA
Water level in dams risen from recent rains to improve underground water level: ..
Study suggests standardized packing, labeling health warning, taxes imposition o ..
Superstar Muhammad Ali remembered on 93rd birth anniversary
Health activists ring alarm bells over 10-stick cigarette pack
DC Matiari chairs emergency meeting to prevent measles epidemic
More Stories From Business
-
Condolence reference held in memory of FBR's officials
3 minutes ago -
Health activists ring alarm bells over 10-stick cigarette pack
28 minutes ago -
Karachi receives maiden direct flight of Azerbaijan Airlines from Baku
38 minutes ago -
PSX turns bullish, gains 619 points
1 hour ago -
Rupee bounces back; gains 13 paisa against dollar
38 minutes ago -
Partners join hands for alternate use of marble, granite slury
38 minutes ago
-
Tokyo's Nikkei index tumbles 3% in morning trade
3 hours ago -
Weekly inflation falls by 0.79 percent
3 hours ago -
IMF Officials assure support to Pakistan’s economy
4 hours ago -
Gold rates up by Rs 500 to Rs 250,700 per tola
4 hours ago -
Philippines posts 1.2 bln USD surplus in March
35 minutes ago -
Japanese auto giant Nissan cuts sales, profit forecasts
5 hours ago