Markets Right Now: Stocks hold steady ahead of trade talks

John Panin Photo: AP
John Panin

February 11, 2019 03:21 PM

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4:00 p.m.

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Stocks are mixed at the close of trading as Wall Street looks ahead to key trade talks between the U.S. and China this week.

The Dow Jones Industrial Average fell 53 points, or 0.2 percent, to 25,053, mostly due to declines in UnitedHealth and Disney. The S&P 500 rose 1 point to 2,709, while the Nasdaq gained 9 points to 7,307.

U.S. officials led by Treasury Secretary Stephen Mnuchin will meet with Chinese officials later this week. The talks are aimed at resolving a trade war that threatens to stunt global economic growth.

Norfolk Southern rose 3.2 percent. The railroad operator is moving forward with a plan to cut costs and boost revenue growth.

Tesla rose 2.3 percent after an analyst upgraded the stock to a "Buy".

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11:45 a.m.

Stocks are little changed as Wall Street looks ahead to key trade talks between the U.S. and China this week.

The Dow Jones Industrial average is down 37 points, or 0.2 percent, to 25,068. The S&P 500 rose less than one point to 2.707.

U.S. Treasury Secretary Stephen Mnuchin is leading a delegation set to meet with Chinese officials on Thursday and Friday. The talks are aimed at resolving a trade war that threatens to stunt global economic growth.

Earnings season is winding down, with about 60 companies in the S&P 500 expected to report this week. Burger King and Tim Horton's owner, Restaurant International, gained 1 percent on strong fourth-quarter earnings.

Tesla rose 2.8 percent after an analyst upgraded the stock to a "Buy."

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9:40 a.m.

U.S. stock markets are opening slightly higher as Wall Street looks ahead to key trade talks between the U.S. and China this week.

The trade talks overshadow wider fears of a global economic slowdown. The British economy slowed last year to its weakest growth rate since the global financial crisis.

Burger King and Tim Horton's owner, Restaurant International, gained on strong fourth-quarter earnings. PG&E rose slightly after the utility, which is operating under bankruptcy protection, said it would shuffle its board of directors.

The S&P 500 gained 6 points, or 0.3 percent, to 2,714.

The Dow Jones Industrial Average rose 57 points, or 0.2 percent, at 25,163. The Nasdaq added 24 points, or 0.3 percent, to 7,319.

Bond prices fell. The yield on the 10-year Treasury rose to 2.66 percent.

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(Copyright 2019 by The Associated Press. All Rights Reserved.)

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