Stocks cut earlier gains and are little changed
Friday, 17 January 2020 23:32 WIB | MARKET UPDATE |SahamAS

Stocks were little changed on Friday after hitting record highs as Wall Street wrapped up a solid weekly performance amid strong global economic data and a solid start to the earnings season.

The Dow Jones Industrial Average traded just 2 points higher, or less than 0.1%. The S&P 500 was up 0.1% while the Nasdaq Composite chopped below the flatline. The major averages reached all-time highs earlier in the day.

For the week, however, the Dow and S&P 500 were up more than 1.5% each while the Nasdaq headed for a 1.9% gain.

Chinese industrial data for December came in better than expected, with production rising 6.9% on a year-over-year basis. The overall Chinese economy grew by 6.1% in 2019, matching expectations. To be sure, that is also the slowest growth rate for the Chinese economy since 1990.

Source: CNBC

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