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Wall Street eased at the end of the weekly trading amid trade tensions

2019-08-09 01:55 pm | Resource: News | No Views : 41

Wall Street eased at the end of the weekly trading amid trade tensions

US stock markets opened lower as investors focused on growing trade tensions between Washington and Beijing. The Chinese Foreign Ministry has warned the United States not to interfere in its internal affairs and the affairs of its Hong Kong administrative region.

Goldman Sachs Group has described Malaysia's group of charges against 17 of its current and former executives as "wrong".

On the data front, the country's Bureau of Labor Statistics reported that the producer price index rose 0.2% in July, while Baker Hughes is due to release his weekly report on active oil platforms later in the day.

US producer prices rise 0.2% in July

On the data front, the US PPI final demand rose 0.2% in July from the previous month, according to a report released by the US Bureau of Labor Statistics on Friday. On a non-adjusted annual basis, producer prices rose 1.7% last month compared to the previous twelve-month period.

The increase came as a result of the 0.4% rise in final goods, while construction prices rose 0.6%. On the other hand, the final demand services index fell 0.1% month-on-month in July.

Final demand prices excluding food, energy and commercial services fell 0.1% from the previous month, but rose 1.7% year-on-year.

US stock openings
  • The Dow Jones Industrial Average fell 0.16% at 15:30 CET
  • The Nasdaq 100 fell 0.52%. At 15:31 CET
  • The Standard & Poor's 500 Index fell 0.26% at the same time.

The euro rose 0.17% against the dollar to 1.11995 at 15:29 at 15:30 CET, while the pound was down 0.49% to $ 1.20744.


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