S&P, Dow dip on Commerce chief Ross's trade comment; chips buoy Nasdaq
Source: Reuters
BUSINESS NEWS JANUARY 24, 2019 / 7:53 AM / UPDATED AN HOUR AGO
Shreyashi Sanya
(Reuters) - The S&P 500 and the Dow Jones Industrial Average dipped on Thursday after U.S. Commerce Secretary Wilbur Ross said the United States and China were a long way from resolving their trade dispute, while a rally in chipmakers lifted the Nasdaq.
Ross told CNBC it was too early to judge where U.S.-china trade talks are headed, but added there is a fair chance the two countries will get to a trade deal. The worlds two largest economies are trying to meet a March 1 deadline to resolve their trade dispute.
If you watch the political news coming out of Washington, that can mean all the difference in the world. So things can start out on a positive note and we get news about the shutdown, tariff battle with China, that can change the market 180 degrees, said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
Six of the 11 major S&P 500 sectors were in the red, with the healthcare weighing the most on the benchmark index.
Read more: https://www.reuters.com/article/us-usa-stocks/sp-dow-dip-on-commerce-chief-rosss-trade-comment-chips-buoy-nasdaq-idUSKCN1PI1O4
Wellstone ruled
(34,661 posts)Parliamentary Session a few weeks back. At which time they agreed on Thirty Year Planned Economy outline. Having a Relative living and teaching in China,one gets to understand what is and what is not happening. China could care less about what the likes of Wilbur Ross thinks. They have moved so far beyond what can the US do for them and now they are doing for themselves.
Never forget,it was the Ross Crowd who exploited China for it's cheap Labor,and that Dragon is now biting that same crowd in the ass.
When a country can land a Lunar Craft on the back side of the moon, or a country can land a probe on a Asteroid ,think about it,we lost our competitiveness folks and with the Rethugs running the store,we are now ten years behind.
turbinetree
(24,703 posts)and you nailed it.........................in your comments, they have moved on, and they have one of many goals and it is space..............................
Wellstone ruled
(34,661 posts)how soon can we become food sufficient. Having a Relative living and teaching in China,his observations are this,China is closer the we are to food sufficiency. China has already established Infrastructure as Agricultural operations in Africa. So,in the short term they will supplement their Food stocks via Australia and Brazil and even Russia.