Stocks trim opening losses despite trade worries, jobs disappointment
Stocks trim opening losses despite trade worries, jobs disappointment
07 April, 2018, 00:59
It fell modestly for the week. Caterpillar and other industrial companies rely heavily on overseas sales and could suffer if commerce is curtailed by rising trade barriers.
Bob Smith, president and chief investment officer at Sage Advisory Services Ltd Co in Austin, Texas, said the markets were going to react adversely to Trump's latest statement.
The Dow recovered some of its worse losses to end down 2.3 percent at 23,932.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Thursday was Diamond Offshore Drilling, Inc. "We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion".
Aerospace giant Boeing fell the most in the Dow, dropping 3.4 percent. Technology companies, banks, industrial and health care stocks sank. The Dow dropped 456 points at session's low. It fell 0.7 percent for the week.
Benchmark U.S. crude dropped $1.48, or 2.3 percent, to $62.06 a barrel in NY while Brent crude, used to price worldwide oils, lost $1.22, or 1.8 percent, to $67.11 per barrel in London.
Amid the focus on trade relations, the Commerce Department released a report showing the US trade deficit widened by more than anticipated in the month of February.
Oil service stocks are turning in some of the market's best performances in mid-day trading, resulting in a 4.6 percent jump by the Philadelphia Oil Service Index.
The market has been on a bumpy ride this week as traders try to get a sense of whether a trade dispute between the two nations will escalate. Direxion Daily S&P 500 Bull 1.25X Shares has a 12 month low of $30.17 and a 12 month high of $40.38. The index is now down for the week.
President Donald Trump's administration spent the past few days reassuring investors that it's not rushing into a trade war, and China's government has done the same.
Boeing rose 1.9% and Caterpillar gained 1.5%.
A separate report from the Labor Department showed a bigger than expected increase in initial jobless claims in the week ended March 31st. Friday's downdraft also came amid a jobs report for March that produced a weaker-than-expected headline figure, showing the US economy added just 103,000 jobs versus forecasts for a rise of 170,000.
The latest report from Bloomberg says that Apple is planning to use its own ARM-based chips on Mac computers starting from 2020. Intel sales of chips such as the Core i7 to Apple are estimated to account for 5pc of the former's annual revenues.
Griffin responded to the signing by tweeting his new team's mantra, #playlikearaven. "I felt like he really wanted to be a Raven". He was eventually benched for all of 2015 in favor of Kirk Cousins and released by the Redskins in 2016.
Classroom doors will also be locked at all times and exterior doors and gates will be locked and secured throughout the day. He said it makes his fellow students uncomfortable, particularly girls who may carry feminine products.
Sir Richard Branson says commercial space travel is "tantalisingly close" after a successful rocket test. The successful test flight is the result of over 2 years of extensive ground and atmospheric testing.
Reserve Bank of India will soon provide guidance on the desirability and feasibility to introduce a central bank digital currency. The MPC continued to be cautious on upside risks to inflation even as it revised its estimates lower.
In southern Mexico, officials screened the dwindling number of hundreds of largely Central American migrants on Tuesday. Such proposals are likely to face opposition from moderate Republicans and Democrats going into the midterm elections.
She added that her supervisors never threatened her job based on her decision not to read the statement , the newspaper reported . At the moment, Sinclair hopes to reach a deal with the FCC and Department of Justice in order to obtain Tribune Broadcasting.
The trip home for Markle, a California native, came as she and Harry finalize details of their May 19 wedding in St. The 2017 Invictus Games in Toronto were a public coming-out of sorts for Harry and his then-girlfriend, Markle.
India is expected to play 102 games including 22 Tests, 42 ODIs and 38 Twenty20 Internationals at home in the five-year cycle. The online auction began at 2:00 IST and went on till 6:00 PM IST, the scheduled close of online auction for the day.
Salman had a total of four separate cases registered against him in connection with the poaching of blackbucks and chinkara. Anand Desai, Salman's lawyer has appealed the session's court for bail and the hearing is expected tomorrow morning.
Affected products will include a wide variety of agricultural products such as soybeans, corn, beef, orange juice and tobacco. As for the scuffle with China , Kotok said he's hopeful that much of this is bluster from the Trump administration.
Pacers Dominate Warriors to Sweep Season Series
Fans of the Golden State Warriors were probably hoping for a revenge win Thursday night against the Indiana Pacers . One of the best matches in his career gave Bogdan Bogdanovich, who converted 11 of 13 shots from the game.
Bald Eagle Lands on James Paxton Before Mariners-Twins Game
It started well enough; the eagle took off majestically from its handler's arm and then sort of circled Paxton in the outfield. Both Dozier and Buxton reviewed playing Wednesday's game in Pittsburgh in snow flurries, and Dozier touched on a game vs.
Congress slams Amit Shah for likening Opposition to animals
A senior BJP leader, who did not want to be named, said the mega convention had symbolic and contemporary political significance. Ananth Kumar, Parliamentary Affairs Minister, said, "BJP works for connecting people, Congress works for dividing people.
Frozen Four schedule, start times and live streams
Heading into the season, Morris knew the starting position was open, and he knew he would need to battle for it. Another key area to watch in this game is Notre Dame's power-play versus Michigan's penalty kill.
Syria war: Rebels 'begin leaving last Eastern Ghouta town'
Douma was one of the earliest centers of the anti-government demonstrations that swept through the country in March 2011. The five had been abducted by the Army of Islam rebel group in Ghouta in 2013 along with many other civilians, it said.
Palestinian injured on Friday on Gaza border dies of wounds
Israeli defense minister, Avigdor Lieberman, said on Thursday that "open-fire rules for the Gaza border will remain unchanged". The two groups advocate the destruction of Israel, which along with the West, regards them as terrorist organisations.
Dallet wins Wisconsin Supreme Court race
Screnock told the crowd at his election watch party he was unable to get in touch with Dallet to congratulate her on her win. "I attribute it to Wisconsin voters standing up to special interests", said Dallet, a Milwaukee County Circuit Court judge.
'Black Panther,' 10th highest grossing movie of all time
Fans are now gearing up for the release of the newest Marvel film Avengers: Infinity War , which hits cinemas on April 23. Both domestically and around the globe, Black Panther has been the Wakanda wonder since releasing on February 16.
More Syrian rebels exit stronghold near Damascus
They included fighters from the Faylaq al-Rahman and Ahrar al-Sham rebel groups, their families and other residents. The evacuations are part of a Russian-brokered agreement between the Assad regime and armed opposition groups.
NASA's new X-plane: The next sonic boom
The sound it generates, NASA says, should be at 75 perceived-level decibels, or "about as loud as a vehicle door closing". The rest of the airplane is "off-the-shelf" technology, he said, and will require no new development.