U.S. stocks struggled for direction after three days of gains on Friday, as inve...
- U.S. stocks struggled for direction after three days of gains on Friday, as investors weighed mixed headlines on trade, with China’s aggressive stance in its trade war with the United States remaining an overhang.
“That is a piece of positive news. The original tariffs were on steel and aluminum and that is what started this whole trade war,” said Art Hogan, chief market strategist at National Securities in New York. The ruling Communist Party’s People’s Daily wrote on Friday the trade war would only make China stronger and never bring the country to its knees.
The drop in shares of Deere as well as Caterpillar Inc and 3M Co pressured the tariff-sensitive industrial sector.Applied Materials Inc gained 4.8% after the chip gear maker’s upbeat third-quarter profit eased concerns about waning chip demand. Online scrapbook company Pinterest Inc slumped 10.8% after the recent Wall Street debutant forecast 2019 revenue broadly in line with Wall Street targets.
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