Dow turns negative pulled by Verizon, Walgreens

Thursday, 30. May 2019 17:07

The Dow erased intraday gains on Thursday as investors' sentiment remained subdued by persistent fears of a recession. Even though the 10-year yield rose slightly earlier in the day, the 20-month low from Tuesday "definitely points to slower growth," Ryan Nauman, market strategist at Informa Financial Intelligence told CNBC.

Earlier in the day, President Donald Trump stated that talks with China are doing very well and that Beijing wants to make a deal.

At 11:06 am ET, the Dow Jones Industrial Average index lost 0.05%, with Verizon and Walgreens as the worst performers, falling 2.60% and 1.34%, respectively.

The Nasdaq 100 was up by 0.25% at 11:08 am ET as Dollar Tree jumped 4.36%, outperforming others. The S&P 500 advanced 0.18% at 11:09 am ET. Keysight Technologies soared over 10%, followed by Dollar General's rise of 7.13%.

The euro was flat against the dollar, going for $1.11338 at 11:15 am ET.

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Breaking the News / NI