Wall Street's main indexes swung between gains and losses on Thursday, as o...
- Wall Street’s main indexes swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was clouded by fears of an economic slowdown after a cut in fourth-quarter GDP growth.
Growth worries hit markets last week when the Federal Reserve abandoned projections for any interest rate hikes this year and the U.S. Treasury yield curve inverted for the first time since 2007. U.S. officials told Reuters on Wednesday that China had made proposals in talks with the United States on a range of issues that go further than it has before, including on forced technology transfer.
Trade sensitive industrial stocks rose 0.33 percent, with Caterpillar Inc up 0.6 percent and 3M Co gaining 0.3 percent. Nielsen Holdings Plc tumbled 10.4 percent, the most among S&P 500 companies, after a report that private equity firm Blackstone Group backed out of an auction to buy the ratings company.
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