US stocks mixed as investors eye China trade talks

A trader makes a bubble with a chewing gum ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) on January 29, 2019 in New York City. — AFP pic
A trader makes a bubble with a chewing gum ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) on 29, 2019 in New York City. — AFP pic

NEW YORK, Jan 31 — stocks were mixed early today following an uneven batch of earnings as investors eyed ongoing trade talks between the US and .

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.5 per cent at 24,822.22.

The broad-based S&P 500 edged up 0.1 per cent to 2,684.78, while the tech-rich Nasdaq Composite Index advanced 0.8 per cent to 7,239.89.

President Donald Trump said on Twitter that trade talks with China in Washington were “going well,” but that a final deal would await a meeting between him and counterpart Xi Jinping “in the near future.”



Briefing.com analyst Patrick O’Hare characterized the statement as ambiguous, saying, “it’s neither a good nor bad revelation from the president, but it just keeps the market guessing about this important issue.”

In earnings news, Facebook surged 11.3 per cent after reporting a record quarterly profit of US$6.9 billion as it boosted its global user base despite scandals that have dented the leading social network’s image.

But Microsoft dropped 1.8 per cent after it reported revenues of US$32.5 billion, a bit below expectations.

Among other companies reporting results, General Electric jumped 9.4 per cent, UPS gained 5.7 per cent and Visa shed 2.5 per cent. — AFP

Source: The Malay Mail Online





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