Investing.com – A strong opening stock rally Thursday faded in the afternoon in part because of worries about the upcoming U.S.-China trade talks.
The concern was prompted when Michael Pillsbury, a prominent adviser to President Donald Trump, told the South China Morning Post that Trump on Chinese imports unless a trade agreement can be quickly negotiated.
Formal talks between the United States and China are supposed to resume in October.
The finished flat on the day. It had been up as much as 0.5%. The were down 0.2% after rising as many as 125 points. The ended up 0.7%; the index had been up as much as 0.7%.
Apple (NASDAQ:), Boeing (NYSE:) and Walt Disney (NYSE:) all pulled the lower. Apple and Costco Wholesale (NASDAQ:) were among the big reasons for the swoon in the Nasdaq, as well as the .
Boeing’s decline may have been prompted by Ryanair Holdings (NASDAQ:) CEO’s projecting it would not resume flying the 737 Max until the first quarter of 2020 at the earliest.
Microsoft (NASDAQ:) hit a 52-week high before falling back. The software giant announced late Wednesday it was boosting its dividend by 11% and planning to buy back up to $40 billion of its shares. Microsoft’s market capitalization stood at $1.085 trillion, ahead of Apple’s $1 trillion market cap.
Interest rates were little changed. The yield moved to 1.789% from Wednesday’s 1.784%.
moved lower as did .
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