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Stocks slip from record highs after Trump says 'long way to go' on trade talks with China

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Stocks dropped today after President Trump stoked uncertainty regarding trade negotiations between China and the U.S. The S&P closed 0.34% lower and the Nasdaq fell 0.43% while the Dow closed just below flat, breaking a five-day rally.

fell 0.4% to 8,222.80. The averages had notched all-time closing highs in the previous session.

Trump's comments come after China and the U.S. agreed not to ratchet up trade tensions in an effort to restart negotiations. China and the U.S. have slapped tariffs on billions of dollars worth of each other's imports since last year. The ongoing trade war has sparked fear of slower economic growth around the world. They also come as the U.S. corporate earnings season kicks into full gear.

Goldman Sachs reported better-than-expected results, driven by the company's investment banking and trading divisions. Goldman shares rose 1.9%. Investors will welcome the strong start to the earnings season since the outlook for corporate profits remains bleak. Analysts expect S&P 500 earnings to have fallen by 3% in the second quarter, according to FactSet data.

 

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Turfline YOU CALL THOSE DROPPED?

😂 they call that dropped. Stocks barely moved. If someone said something positive about trade, then the market probably would have been up 1%

Biased BS

Big fall. You suck at this

b u y i n g o p p t y

DJT: I'm the best deal maker.🙄

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