Wall Street Muted as Growth Worries Weigh; Trade Talks in Focus
Friday, 29 March 2019 00:07 WIB | MARKET UPDATE |S & P 500Wall StreetSaham AS

U.S. stocks swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was overshadowed by fears of an economic slowdown after a cut in fourth-quarter GDP growth.

Data on Thursday showed domestic economy slowed more than initially thought in the fourth quarter, keeping growth in 2018 below the 3 percent annual target, and corporate profits failed to rise for the first time in more than two years.

Growth worries hit markets last week when the Federal Reserve abandoned projections for any interest rate hikes this year and the U.S. Treasury yield curve inverted for the first time since 2007.

At 11:42 a.m. EDT, the Dow Jones Industrial Average was down 22.92 points, or 0.09 percent, at 25,602.67, the S&P 500 was down 3.65 points, or 0.13 percent, at 2,801.72 and the Nasdaq Composite was down 14.60 points, or 0.19 percent, at 7,628.78.

Source : Reuters

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