Economic news

Lack of New Moves in Trade Talks Pushes Wall St. Down

Wall Street stocks declined on Thursday as the deadline for another wave of punitive duties hike in Chinese imports gets closer.

kroger shares tumblePhoto: Reuters

U.S. three major indexes went down with Dow Jones and the Nasdaq Composite going down by 0.13 percent both, to 27,618 and 8,555 respectively, while the S&P 500 slipped by 0.03 percent, to 3,111 at 16.05 GMT.

Stocks tumbled despite the fact it was cut fewer jobs in the previous month and the U.S. trade deficit showed a more moderate gap as it was expected according to Challenger report.

The U.S. trade deficit narrowed from the previous $51.1 billion to $47,2 billion in October.

As for the corporate news, Dollar General Corp securities rose by 1 percent after the company raised its full-year profit forecast.

Nike shares added 1.5 percent after Goldman Sachs revised the sportswear maker’s stock  from “neutral” to “buy”.

Kroger securities went down by 3 percent on weaker-than-expected quarterly sales and profit results, hurt by fierce competition from such sector rivals as Walmart (-0.66) and (-0.68). 

Chesapeake Energy stocks surged by 16.55 percent on Thursday. Apple added 0.96 percent, Facebook shares added 0.26 percent.

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