[ad_1]
US stocks canceled their losses on Thursday and began to rise as investors waited for the meeting between President Trump and Chinese President Xi Jinping, which could ease trade tensions between the two largest economies. world, even aggravate them.
The meeting scheduled for Saturday on the sidelines of the G20 summit in Argentina is expected to focus on Trump's tariffs on Chinese products. These rates are attributed to the rise in prices of consumer goods for Americans.
Economic news was mixed on Thursday. The government said US consumers spent the most in seven months in October. Spending jumped 0.6% as households paid more for prescription drugs and utilities, exceeding expectations by 0.4%.
Personal incomes rose 0.5%, the largest gain since January, and jobless claims last week peaked at 10 months and exceeded expectations.
Crude oil prices also reversed the trading trend in the afternoon, up more than 2%.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| I: DJI | DOW JONES MEANS | 25338.84 | -27.59 | -0.11% |
| SP500 | S & P 500 | 2737.76 | -6.03 | -0.22% |
| I: COMP | COMPOUND INDEX NASDAQ | 7273.0824 | -18.51 | -0.25% |
On Wednesday, the Dow Jones Industrial Average jumped more than 617 points, or 2.5%, posting the best gain in three days since 2016, with an addition of 111.22 points, or 4.22%, according to the Dow Group Jones Market Data. The S & P 500 and Nasdaq Composite also jumped more than 2% per piece.
"We know that an action too fast could shorten the expansion. We also know that if we move too slowly – keeping interest rates too low – for too long, we risk further distortions in the form of higher inflation or destabilizing financial imbalances. Our gradual growth path has been designed to balance these two risks, which we both need to take seriously, "Powell said in a speech prepared at the Economic Club in New York.
In economic terms, the second revision of the third quarter GDP was completed as planned, unchanged at 3.5% and remaining growth of 4.2% in the second quarter.
More new business
Thursday, in Asian markets, the Chinese Composite Shanghai Composite was down 1.4%. Hang Seng Hong Kong fell 0.9%. The Japanese average Nikkei gained 0.8%.
In Europe, the London FTSE increased by 0.6%, the German DAX by 0.1% and the French CAC by 0.4%.
Suzanne O'Halloran of FOX Business contributed to this article.
Source link
