US Stocks Mixed as Tech Sector Struggles

The S&P 500 hovered near six-month highs on Thursday, with losses in technology stocks countered by gains in Boeing Co and Facebook Inc, as investors waited for more clarity on the U.S.-China trade talks.

Negotiations continued in Washington after meetings last week in Beijing, as the two countries worked toward resolving their long-standing trade dispute which has cast a shadow over global economic growth.



President Donald Trump is set to meet Vice Premier Liu He, who is leading the Chinese side in the talks, later on Thursday.

“The market is taking a breather today. It’s in a kind of wait-and-see period after a week of strong rally,” said Paul Brigandi, head of trading at Direxion Funds in New York.

“We’re awaiting some more details on the U.S.-China negotiations and we’re awaiting the jobs report. That’s giving people reason to wait and see what the next steps are.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza