Stocks bounce off lows but remain in retreat after Trump claims China ‘broke the deal

U.S. stocks trimmed some of their earlier losses but remained in retreat Thursday, with the S&P 500 and the Nasdaq poised for a fourth straight session of losses, as trade tensions ramped up after U.S. President Donald Trump threatened tariff retaliation on China, which he claims “broke the deal”.

The Chinese delegation is at the airport and will take off soon. Some ask why bother to go to the US for talks given what had happened?This is also a question for the US side, why still bother to invite the Chinese delegation? I want to emphasize 'invitation'. What are analysts saying? Before Trump’s Sunday tweet, when greater tariffs were threatened, “our sources in Washington were anticipating a ‘weak’ deal with few genuine Chinese concessions,” wrote James Sweeney, chief economist for Credit Suisse, in a note to clients.

What’s speakers and data are in focus? Federal Reserve Chairman Jerome Powell discussed the “crucial” problems of stagnant middle-class incomes and economic mobility at the Fed’s community development research conference Thursday morning. Wholesale inventories in the U.S. fell 0.1% in March, the Commerce Department said Thursday, versus consensus expectations of a 0.3% rise, according to FactSet.

Shares of Perrigo Company plc PRGO, +5.37% rose 4.1% after the company announced a “self-care transformation plan” and long-term growth targets during an investor day held Thursday.

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