Third Day Of Declines For Dow, S&P As Wall Street Sags
Mohammad Ali (@ChaudhryMAli88) Published November 22, 2019 | 08:11 AM
New York, (UrduPoint / Pakistan Point News - 22nd Nov, 2019 ) :Wall Street edged lower on Thursday despite a reported offer from Beijing for another face-to-face meeting with US trade negotiators.
Major US stock indexes are now on track to finish the week in the red heading into the Thanksgiving holiday week, eroding an extended run of gains driven by hopes the US-China trade war would finally be resolved.
The benchmark Dow Jones Industrial Average and broader S&P 500 both fell 0.2 percent to end at 27,766.29 and 3,103.48, respectively.
The tech-heavy Nasdaq also lost 0.2 percent, closing at 8,506.21.
Citing unnamed sources, The Wall Street Journal reported Thursday that Chinese trade envoy Liu He had invited US trade officials to Beijing for a new round of talks.
US officials are reluctant to make the trip, however, without clear commitments from Beijing addressing key US complaints, according to the report.
President Donald Trump last month announced a partial agreement but efforts to finalize the text appear to have stumbled.
Meanwhile, data on existing home sales in October showed some resilience but leading economic indicators fell.
But Peter Cardillo of Spartan Capital Securities told AFP stocks were not reacting economic data.
"It's very much still tied to the daily rhetoric on the trade war," he said.
But "We don't see a major sell-off," he noted. "That tells me what's happening here is more technical than fundamental."Macy's sank 2.3 percent after the department store chain reported a drop in comparable store sales in the third quarter and cut its annual forecasts.
TD Ameritrade soared 16.9 percent following reports it may be bought by fellow online brokerage Charles Schwab, which gained 7.3 percent.
Recent Stories
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
Putin says plans to visit China in May
More Stories From Miscellaneous
-
PDMA predicts gusty wind, rain with thunder, hails
2 days ago -
Iranian president Raisi given guard of honour at PM House
4 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
4 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
4 days ago -
Cattle farming vital to alleviate poverty in rural areas
5 days ago -
Pakistan: A land of tourism, archeological wonders
5 days ago
-
Transforming education sector: from job hunters to job creators
7 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
11 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
11 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
12 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
15 days ago -
Radio Bahawalpur to broadcast Eid programs
17 days ago