New York (AFP)
The New York Stock Exchange retreated slightly on Monday, as the market sought to digest contradictory signals on the Sino-US trade front.
Its leading index, the Dow Jones Industrial Average, yielded 0.02% around 15:00 GMT, to 27,999.04 points.
The Nasdaq, with strong technological color, fell by 0.30%, to 8,515.46 points.
The broad S & P 500 index lost 0.19% to 3.114.40 points.
The main indices of the New York Stock Exchange ended at record highs on Friday, buoyed by a renewed optimism on a trade agreement between Washington and Beijing: the Dow Jones gained 0.80%, the Nasdaq 0.73% and the broad index S & P 500 0.77%.
Over the week, the Dow Jones was up 1.2%, the Nasdaq 0.8% and the S & P 500 0.9%
The tone was still optimistic this weekend after Bloomberg news reports of "constructive conversations" Saturday between top US and Chinese business leaders.
But Monday morning, before the opening of Wall Street, a CNBC reporter, quoted a Chinese government source, said Beijing was more pessimistic about the signing of an agreement because of the refusal of US President Donald Trump , to support a lifting of punitive tariffs on Chinese imports.
"These discordant prospects are nothing new, they instill volatility in the short term," notes Patrick O'Hare, Briefing.
"As the main indices have reached unprecedented levels, we can say that the overview of market players is that an agreement to reduce trade tensions will soon be signed," adds the expert.
The US president announced in October that the United States and China are close to a "phase 1" trade agreement, but no official date has yet been confirmed for the signing of such a text.
"The trade situation between the United States and China remains the main catalyst of the market, and like Le Grinch spoil Christmas or, like Rudolph, the red-nosed reindeer, can save Christmas," says O'Hare.
In the bond market, the 10-year rate on US debt was down 1.5900%, against 1.610% Friday at the close.
© 2019 AFP