U.S. Stocks Trade Mixed Ahead of China Trade Talks: Markets Wrap
Added 01-29-19 10:04:02am EST - “U.S. equities were mixed as investors weighed the latest corporate earnings and the chances of a trade breakthrough between the world's biggest economies. Industrial companies were among the biggest gainers as 3M Co. advanced after…” - Finance.yahoo.com
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U.S. equities were mixed as investors weighed the latest corporate earnings and the chances of a trade breakthrough between the world’s biggest economies.
Industrial companies were among the biggest gainers as 3M Co. advanced after reporting profits, while technology stocks dragged on major U.S. indexes. Almost all sectors gained in the Stoxx Europe 600. Treasuries and the dollar were little changed. The pound edged higher as the Speaker of the U.K. House of Commons chose amendments to delay Brexit and renegotiate the deal to go to a vote later Tuesday.
After a robust start to the year for equities, investors are looking for reasons to chase the rally in a corporate earnings season that’s been indecisive so far. Chinese Vice Premier Liu He arrived in Washington for what the White House is describing as “very, very important” trade talks this week. Against the backdrop of U.S.-China stress and geopolitical tensions in Venezuela, traders they also need to navigate the Federal Reserve rate decision, developments in the U.K.’s Brexit process and a potential slew of American economic data that was delayed by the government shutdown.
“Even though this has been a good start of the year,’’ investors now “want to be kind of defensive,’’ Ben Emons, the managing director of global macro strategy at Medley Global Advisors, said on Bloomberg TV. “Earnings will not grow strongly, and we still deal with leverage in the corporate sector that has not been unwound in any way.’’
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