Dow Ends Off Its Lows as Trump Says Xi Sent Him a 'Beautiful Letter', But Tariff Tensions Linger
Friday, 10 May 2019 03:30 WIB |
MARKET UPDATE |DOW JONESS & P 500SahamAS
U.S. stock benchmarks finished well off the day's lows but remained under pressure Thursday as U.S.-China trade tensions continued to weigh on Wall Street.
The Dow Jones Industrial Average closed down 138 points, or 0.5%, at 25,828, with blue chips putting in an intraday low at 25,517.39, while the S&P 500 index booked a 0.3% loss at 2,871, booking a fourth straight decline and finishing near its lowest since early April, according to FactSet data. The Nasdaq Composite Index closed down 0.4% at 7,911, ending at its lowest since April 9.
President Donald Trump said Thursday he'd gotten a "beautiful letter" from Chinese President Xi Jinping, just hours before U.S. and Chinese officials were set to resume trade talks in Washington ahead of a deadline for tariffs to be increased to 25% from 10%, slated to take effect 12:01 a.m. Eastern Time Friday. In corporate news, investors were awaiting pricing of ride-hailing giant Uber Technologies Inc. which is slated to make its share debut on the New York Stock Exchange on Friday morning.
Source : Marketwatch