U.S. stocks gave back early gains early Thursday, after opening higher with investors optimistic about prospects for a partial U.S.-China trade deal after Chinese officials indicated that delegates remain in \u201cclose contact\u201d, but stocks are still on track for a weekly decline, <\/p>\n
How are major benchmarks performing?<\/h6>\n
The Dow Jones Industrial Average
On Wednesday<\/a>, the Dow rose 146.97 points, 0.5%, to 27,649.78 while the S&P 500 index added 19.56 points, or 0.6%, to close at 3,112.76 and the Nasdaq Composite Index advanced 46.03 points, or 0.5%, to end the session at 8,566.67. <\/p>\n For the week, the Dow is on track to decline 1.4%, the S&P 500 is poised for a 0.9% weekly skid, while the Nasdaq Composite was on track for a decline of 1.1%, as of Thursday\u2019s close. <\/p>\n Investors were still optimistic about a Sino-American trade deal after a spokesman for China\u2019s Ministry of Commerce, Gao Feng, said at a weekly briefing on Thursday <\/a>that negotiations toward a so-called phase-one pact to cease tariff hostilities between the world\u2019s largest economies are progressing. However, Feng didn\u2019t provide further details on talks and emphasized that China wants a rollback of existing tariffs to be included as a part of any resolution. <\/p>\n The comments come after President Donald Trump, speaking at a meeting with German Chancellor Angela Merkel on Wednesday, described negotiations in upbeat terms ahead of a Dec. 15 deadline at which import duties will be placed on $156 billion in China goods. <\/p>\n President Trump earlier in the week had raised fears that a resolution may not be achieved until after the U.S. 2020 presidential elections. <\/p>\n China and the U.S. have 10 days to reach a trade deal before additional U.S. tariffs on Chinese goods take effect which would target an additional $156 billion in Chinese goods.<\/p>\n \u201cProgress on U.S.-China trade discussions needs to come sooner rather than later if economic growth or corporate profits are going to improve in 2020,\u201d John Lynch, Chief Investment Strategist for LPL Financial, said in note. <\/p>\n In U.S. economic data, the nation\u2019s trade deficit dropped almost 8% in October to a 16-month low<\/a>, largely because of lower imports from China. However, the U.S. is on track to record the biggest annual trade deficit in 11 years despite President Trump\u2019s trade war with China. <\/p>\n The number of Americans who applied for unemployment benefits at the end of November <\/a>fell to the lowest level in seven months and returned close to a 50-year low, but the sharp decline in jobless claims likely stems in part from the Thanksgiving holiday.<\/p>\n \u201cThe economy\u2019s recession scare is history with the labor markets strong as a bull, and the narrowing of the trade deficit helping the economy to grow at least 1-1\/2 percent this quarter,\u201d MUFG chief economist Chris Rupkey said.<\/p>\n A report on U.S. factory orders for October is also set to be released at 10 a.m. Eastern. <\/p>\n Kroger <\/strong>shares
United Airlines<\/strong>
Office-messaging company Slack Technologies Inc<\/strong>.
H&R Block<\/strong>\u2019s
Dollar General Corp<\/strong>. shares
Tiffany & Co<\/strong>.
The yield on the 10-year U.S. Treasury note
Oil futures rose as a two-day meeting of OPEC and other major crude producers got under way <\/a>with the group debating deeper cuts to global output. West Texas Intermediate crude for January delivery
Gold for February delivery
The U.S. dollar, as measured by the ICE U.S. Dollar Index
European stocks closed higher, with the Stoxx Europe
In Asia overnight, the Hang Seng
\t\t\t\t<\/p><\/div>\n [ad_2] [ad_1] U.S. stocks gave back early gains early Thursday, after opening higher with investors optimistic about prospects for a partial U.S.-China trade deal after Chinese officials indicated that delegates remain in \u201cclose contact\u201d, but stocks are still on track for a weekly decline, How are major benchmarks performing? The Dow Jones Industrial Average
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\n \u00a0was down 24 points or 0.4% higher at 8,542. <\/p>\nWhat\u2019s driving the market?<\/h6>\n
What stocks are in focus? <\/h6>\n
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\n fell 0.2% at 97.475 against a basket of a half-dozen currency peers, extending a weeklong slide.<\/p>\n
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\n \u00a0 closed 0.7% higher.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"