Consumer spending, business production slow ahead of holidays. Stocks on Wall Street have soared to fresh record highs, but it's not because the economy is flashing a big thumbs-up sign. The economy is still expanding, to be sure, and sporadic worries about recession have faded again.
U.S. stocks drifted lower Monday, kept in a narrow range by a dearth of economic data and earnings. The Dow Jones Industrial Average fell 5 points, or less than 0.1%, to 27999 shortly after the opening bell. The S&P 500 declined 0.2% and the Nasdaq Composite was off 0.4%.
Canada's main stock index snapped an 11-day winning streak to come off its record high on Monday after a report stated that the mood in China over a trade deal with the United States is "pessimistic" due to U.S. President Donald Trump's reluctance to roll back tariffs.
U.S. stocks opened lower after touching another round of fresh highs last week. Early-morning reports cast doubt on the possibility of an agreement between American and Chinese negotiators, however. The Dow Jones Industrial Average fell nearly 34 points, 0.1%, at the open, to 27,971, but recovered shortly after the open.
Canada's main stock index opened lower on Monday after a report said the mood in China over a trade deal with the United States is pessimistic due to President Donald Trump's reluctance to roll back tariffs. * At 09:33 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 28.27 points, or 0.17%, at 17,000.2.
* Trade deal mood in Beijing pessimistic - CNBC. * T-Mobile down as CEO to step down next year. * HP drops after rejecting Xerox's (XRX) $33.5 bln bid. * Futures: Dow up 0.04%, S&P and Nasdaq off 0.03% By Arjun Panchadar. Nov 18 - Wall Street's main indexes were set for a subdued open on Monday after a report stoked fresh fears over the possibility of a U.S.-China trade deal.
U.S. stock index futures gave up gains on Monday following a CNBC report that the mood in China over a trade deal with the United States is "pessimistic" due to President Donald Trump's reluctance to roll back tariffs, which China believed the United States had agreed to.
Wall Street's main indexes were very slightly higher on Monday after closing at records on Friday and investors digested mixed headlines on U.S.-China trade relations.
* Futures up: Dow 0.30%, S&P 0.19%, Nasdaq 0.27% By Arjun Panchadar. U.S. stock index futures pointed to another session of gains on Monday, as a report out of China added to optimism over a trade deal and the country's central bank indicated willingness to step in to prop up a slowing economy.
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