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Wall Street opens down, doubting business progress


Wall Street opens down, doubting business progress

New York (AFP)

The New York Stock Exchange moved slightly lower on Monday shortly after the opening, with investors appearing to be cautious about the US-China trade breakthrough.

Its flagship index, the Dow Jones Industrial Average, was down 0.05% to 26,803.15 points around 13:50 GMT

The Nasdaq, with strong technological color, dropped 0.06% to 8.052,17 points and the expanded index S & P 500 also lost 0.06% to 2,968.38 points.

The main Wall Street indices advanced last week, led by the confirmation of a partial agreement between Beijing and Washington on Friday: for the whole week, the Dow Jones and Nasdaq had appreciated 0.9 % and the S & P 500 by 0.6%.

Donald Trump announced on Friday that the world's two largest economies reached an agreement in principle after two days of talks in Washington in the presence of Chinese Vice Premier Liu He.

"Friday's session ended a week dominated by commercial news." (Monday), investors wonder if the optimistic speech around the latest round of trade negotiations between Chinese and American representatives was justified, "said Patrick O Hare Briefing.

The financial actors reacted Monday early in the session to information from the Bloomberg agency indicating that China wanted to continue talks before signing a trade agreement with the United States.

The signing is expected in mid-November in Chile, on the sidelines of a summit of the Association of Pacific Rim countries, said Monday the US Secretary of the Treasury, Steven Mnuchin, on the CNBC financial news channel.

Mnuchin said there will be conference calls this week at the assistant negotiator level.

The commercial arm wrestling in which Beijing and Washington have been engaged for a year and a half, imposing reciprocal tariffs on hundreds of billions of goods, affects the world economy.

The US bond market was closed Monday because of a semi-bank holiday in the United States.

© 2019 AFP

Source: france24

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