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US stocks price opened lower after the trade war escalated

2019-08-02 02:10 pm | Resource: News | No Views : 41

 US stocks price  opened lower after the trade war escalated

US markets were trading on red after the opening bell, following the latest wave of trade war between Washington and Beijing. US President Donald Trump has announced that his administration will apply a 10 percent tariff on the remaining Chinese imports, after which the Chinese Foreign Ministry said it would introduce countermeasures.

The US trade deficit fell slightly in May, while US employment data met expectations and increased according to assessments.

Higher employment in the United States in line with estimates in July

Corresponding to job growth in US economists' estimates in July, according to a closely monitored report released by the Department of Labor on Friday. Non-farm jobs rose by 164,000 jobs in July after jumping 193,000 jobs in June, the report said.

Economists had expected an increase of 164,000 jobs, compared to the 224,000 previously reported in the previous month. The Labor Department also said the unemployment rate remained steady at 3.7 percent in July, unchanged from June and in line with economists' estimates.

US trade deficit shows slight change in June

Given the value of US imports and exports, which showed a similar decline, the Commerce Department released a report on Friday showing that the US trade deficit did not change much in June. The Commerce Department said the trade deficit narrowed slightly to $ 55.2 billion in June from $ 55.3 billion in May.

Economists had expected the deficit to narrow to $ 54.6 billion from $ 55.5 billion a month earlier. Imports fell $ 4.6 billion, or 1.7 percent, to $ 261.5 billion, while exports fell 4.4 billion dollars, or 2.1 percent, to $ 206.3 billion, the report said.

US Stocks Open
  • The Dow Jones Industrial Average lost 120 points shortly after the session started, dropping 0.34%.
  • The Nasdaq 100 was down 0.81%, weighed down by a 18.06% fall in NetApp.
  • At the same time, the S & P 500 index fell 0.50%, driven by retail and technical stocks.

The euro rose 0.07% against the dollar, buying $ 1.1091 at 9:33 am Eastern Time.


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