US trade deficit and Wall Street slumped at the opening
2019-02-06 03:25 pm | Resource: NEWS | No Views : 207
Wall Street indexes started trading on Wednesday with little change and looking for direction. With the issuance of several statements and statements from the US officials.
Markets showed caution following US President Donald Trump's speech. He called on China to implement "real structural changes" as a condition for a comprehensive bilateral trade agreement. It is worth mentioning that the president was warned in a bill approved by the Senate not to withdraw from Afghanistan and Syria very early.
On the level of trade negotiations
US Treasury Secretary Stephen Manuchen expressed his confidence in the progress of trade talks with China, stressing his orientation with an American delegation to Beijing next week.
"They are committed to continuing these talks," Manuchen said in an interview with CNBC. "They have made an enormous effort to reach a trade agreement before the March 2 deadline.
He explained that Trump has held very fruitful meetings with Chinese Vice Premier Liu Hee to reach solutions on the issues of trade in dispute. Manuchen will be part of a delegation headed to Beijing in hopes of resolving controversial issues. US Trade Representative Robert Leahyzer is expected to lead negotiations with the help of the Treasury Secretary and other administration officials.
US trade deficit slips
The US trade deficit fell 11.5% last November to its lowest level in five months, supported by lower oil import costs. The US trade deficit narrowed to $ 49.3 billion from a revised October reading of $ 55.7 billion. Analysts had forecast a trade deficit in the world's largest economy at $ 53.7 billion in November. This came after imports fell 2.9% to $ 259.2 billion while exports fell 0.6% to $ 209.9 billion.
Wall Street trades
- The Dow Jones Industrial Average fell 0.14%, Microsoft fell 0.69% down the chart, shedding first place in terms of Apple's market value in instantaneous terms after two days on the throne.
- The Nasdaq 100 rose 0.05%, hitting its highest point in two months, led by a 11.3% rise in Skyworks.
- The S & P 500 was up 0.08% in the red zone, looking to break a series of five sessions in the positive territory. Electronic Arts was the worst performer, falling 14.18%.
We offer you the analysis of the NASDAQ 100 index on Wednesday , April 17, 2019 with the most important forecasts for the NASDAQ 100 index in the US market. Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around 7670 levels, forming a negative candlestick pattern as the indices…
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