Stocks stall as trade enthusiasm fades
U.S. stocks held near the unchanged mark on Tuesday as optimism over the U.S.-China trade truce faded after the United States threatened tariffs on additional European goods, stalling a recent rally.
U.S. stocks held near the unchanged mark on Tuesday as optimism over the U.S.-China trade truce faded after the United States threatened tariffs on additional European goods, stalling a recent rally.
Weak U.S. and euro zone manufacturing data and Washington's threat to impose additional tariffs on European goods weighed on global stock markets on Tuesday, cooling a rally that pushed U.S. stocks to near-record highs the previous day.
Housing is providing another in a line of troubling signs pointing to a substantial economic downturn.
European Union leaders agreed on Tuesday to name France's Christine Lagarde as the new head of the European Central Bank and sealed a deal on filling the EU's other top four jobs after marathon talks that have exposed deep divisions in the bloc.
Oil prices fell more than 4% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand.
Major automakers on Tuesday posted mixed U.S. sales results for June and the second quarter, with demand still fairly strong for SUVs and pickup trucks while passenger car sales continued a long-running decline.
Tesla Inc handily beat Wall Street expectations on Tuesday for vehicle deliveries in the second quarter, sending shares up 8% as the performance tempered concerns about demand for the electric car maker's vehicles.
Arizona's governor on Tuesday withdrew a $1 million incentive for Nike Inc to build a plant in the state after the world's largest sportswear maker canceled release of a sneaker featuring a colonial-era version of the American flag, which critics say reflects links to slavery.
U.S. stocks managed modest gains on Tuesday after holding near the unchanged mark for much of the session as enthusiasm over the U.S.-China trade truce faded after the United States threatened tariffs on additional European goods.
Global regulators will meet in Montreal next week to review pilot licensing requirements, the U.N.'s aviation agency said, as part of a discussion that has gained urgency following two fatal crashes of Boeing 737 MAX aircraft in the past year.
Tesla Inc set a record for quarterly vehicle deliveries in a triumphant response to months of questions about demand for its luxury electric cars, sending shares up 7% after hours on Tuesday.
A U.S. judge on Tuesday said he would reduce an $80 million damage award against Bayer AG to $50 million or less in the case of a man who blamed his cancer on glyphosate-based weed killer Roundup.
Amazon will add over 2,000 permanent jobs in Britain this year, taking the U.S. retail giant's UK workforce to more than 29,500, it said on Wednesday.
Asian shares were subdued on Wednesday as initial enthusiasm over the latest U.S.-China trade truce was overtaken by fresh concerns over Washington's threat of tariffs on additional European goods.
Oil prices edged higher on Wednesday, steadying after a more than 4% fall in the previous session, as extended output cuts by OPEC and its allies helped underpin prices despite growing concerns about weak demand.