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Wall Street indexes open lower ahead of US-China trade talks

2019-10-07 02:42 pm | Resource: News | No Views : 14

 US stocks open lower ahead of US-China trade talks

 Wall Street indexes fell at the open on Monday after it reported yesterday that China does not want to sign a comprehensive trade agreement with the United States. Peter Navarro, director of trade and manufacturing policy at the White House, said before the bell that only a broad trade agreement was acceptable to Washington.

Chinese Vice Premier Liu He is scheduled to visit Washington on Oct. 10 to resume bilateral negotiations. Investors will focus on Federal Reserve Chairman Jerome Powell's speech scheduled for later today.

White House confirms resumption of US-China trade talks on Thursday

The White House confirmed on Monday that high-level trade negotiations between the United States and China will resume this week in Washington, DC. White House press secretary Stephanie Gresham said in a statement.

`` Under the leadership of President Donald Trump, U.S. Trade Representative Robert Lightitzer and Treasury Secretary Stephen Mnuchin will welcome a Chinese delegation headed by Vice Premier Liu He to continue trade negotiations between the two countries starting October 10, 2019, '' she said, adding that the talks will focus on 'Forced Technology Transfer, Rights' Intellectual property, services, non-tariff barriers, agriculture and their application. "

Earlier, US media reported that Beijing is not interested in signing a broad trade agreement with Washington and will look to "narrow" the scope of future negotiations.

Trump loses court battle to keep tax returns secret

US President Donald Trump has lost a lawsuit against Manhattan County attorney Cyrus Vance Jr., seeking to preserve personal tax revenues, especially after a US court in New York on Monday quashed his complaint.

In the complaint, Trump's lawyers argued that he should be immune to any criminal proceedings while in office. However, Judge Victor Marrero rejected their position, describing the challenge as "unlimited confirmation of presidential immunity." "The broad idea of ​​constitutional immunity used here to protect the president from judicial proceedings would be an extension of executive power," the judge said.

In August, the region's Attorney General's Office, Vance Junior, ordered the president to bring the personal and business taxes of Mazar's accounting firm in Trump in an effort to investigate payments to Stormy Daniels and Karen McDougall. Trump appealed the court's decision immediately.

US Stocks
  • The Dow fell 0.28% at the open, with Dow Chemical topping the loss at 1.08%.
  • The Nasdaq 100 fell 0.37% with Wynn Resorts worst performing by 2.24%.
  • The S&P 500 fell 0.27% as the Devon Energy Corp fell 3.41%.

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