US stocks open lower ahead of US-China trade talks

Monday, 07. October 2019 15:32

Wall Street indexes declined at the open on Monday after it was reported yesterday that China is unwilling to sign an extensive trade agreement with the United States. White House Director of Trade and Manufacturing Policy Peter Navarro stated before the bell that only a broad trade deal is acceptable for Washington. Chinese Vice Premier Liu He is set to visit Washington on October 10 for the restart of the bilateral negotiations. Investors will focus on the speech by Chair of the Federal Reserve Jerome Powell, scheduled for later in the day.

The Dow Jones fell 0.28% at the open, with chemical company Dow Inc. leading the losses at 1.08%. The Nasdaq 100 decreased by 0.37% with Wynn Resorts as the worst performer at 2.24%. The S&P 500 dipped 0.27% as Devon Energy Corp fell the most, 3.41%.

The euro was 0.09% higher at $1.09889 at 9:30 am ET, while the pound lost 0.15%, changing hands for $1.23174.

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Breaking the News / MS