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Wall Street stocks open in red with lower yield on bonds

2019-08-07 05:53 pm | Resource: News | No Views : 55

 Wall Street  stocks open in red with lower yield on bonds

Wall Street stocks started Wednesday's trading session low, erasing yesterday's gains after US President Donald Trump called on the Federal Reserve to further cut interest rates. Bond yields declined as sovereign debt prices rose from the Treasury. Meanwhile, Subway announced that it will start offering alternative meat products from Beyond Meat Inc. CVS Health's profits beat market estimates with total revenue of $ 63.43 billion.

 The September China-US talks were not affected by tensions

Negotiators from China and the United States are expected to meet in Washington in September despite rising tensions between the world's two largest economies, the South China Morning Post reported on Wednesday.

According to a former Chinese Ministry of Commerce official, the talks are "likely to take place as planned" and may ease tensions between Beijing and Washington. His comments echo those made by White House economic adviser Larry Kudlow yesterday.

Earlier in the day, China accused the United States of misleading it as a currency manipulator, saying Beijing would continue its "consistent and consistent" policies in relations with the yuan.
  • The Dow Jones Industrial Average fell 1.01% at the opening bell, falling 1.67% after just five minutes. Walt Disney was the worst performer, falling 5.60%.
  • The Nasdaq 100 fell 1.12% as Netflix Inc. surrendered. By 3.90%.
  • The S&P 500 lost 1.02% at the same time, with Devon Energy Corp down 5.28%.

The euro rose 0.22% against the dollar at 9:29 am EDT, trading at $ 1.12237. The pound fell 0.10% to $ 1.21547 at a time.


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