Stocks sag with Nafta in focus; Nike shares weigh on Dow

U.S. stocks traded lower midday Tuesday, trimming losses after a strong reading on manufacturing activity, as investors looked ahead to the latest developments on trade policy.

The Dow Jones Industrial Average fell 110 points, or 0.4%, to 25,858. The S&P 500 index lost 13 points to 2,888, a dip of 0.4%. The Nasdaq Composite Index fell 0.6%, or 49 points, to 8,061.

Both the S&P and the Nasdaq are coming off their a fifth positive month in a row, while the Dow has gained for two straight months.


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Stock futures struggle for direction with Nafta in focus

U.S. stock-index futures were little changed on Tuesday, with investors awaiting the latest economic data and developments on trade to provide impetus for equity gains. Refreshed trade talks between the U.S. and Canada to resolve trade differences are expected to resume on Wednesday.

Investors are coming off a three-day weekend, as most markets in the U.S. were closed in observance of Labor day on Monday.

Futures for the Dow Jones Industrial Average were off 40 points, or 0.2%, at 25,949, those for the S&P 500 index traded flat at 2,902.50. Futures for the Nasdaq-100 climbed 2.50 points, or less than 0.1%, at 7,663.75.

Trade tensions were a key focus for investors to begin the holiday-abbreviated week, with the U.S. scheduled to restart tense negotiations with Canada that could lead to way to revising the North American Free Trade Agreement.

Source: Marketwatch

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European shares open higher; Powell speech in focus

European stocks opened higher ahead of a key speech by Jerome Powell, the chair of the U.S. Federal Reserve.

Stoxx Europe 600 index opened flat at 383.65. German DAX 30 index up 0.2% to 12,395.59 at open, French CAC 40 index strengthened 0.1% to 5,426.94 while FTSE 100 index opened flat at 7,564.23.

Fed chairman Powell is expected to give a speech at 10 a.m. ET (5 p.m. London time). The address comes after recent comments from U.S. President Donald Trump that he wasn’t thrilled with the work of the central bank.

Furthermore, market players are also digesting news that trade talks between the U.S. and China ended Thursday without any progress on the same day that new tariffs began.

Back in Europe, minutes from the last European Central Bank meeting showed protectionism and a global trade war are the biggest risks to the euro zone growth.

On the data front, there will be mortgage approval numbers out in the U.K. at 9.30 a.m. London time.

Source: CNBC

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