tariff Tiff. US equities remained under pressure on Thursday before additional duties on Chinese imports took effect at midnight. All three major indices included red.
(FB) co-founder Chris Hughes called for the dissolution of the social media giant.
Abercrombie & Fitch
(ANF) and Nordstrom (JWN) fell to downgrades. In the Today After the Bell we have …
US. Stocks were back in the red on Thursday as US-China trade talks were uncertain. The
Dow Jones Industrial Average
S & P 500
slipped 8.70 points or 0.30% and closed at 2870.72
lost 32.73 points, or 0.41%, ending at 7910.59.
While negotiators from both countries return to the table, investors remain concerned whether talks can hold higher tariffs by midnight before a deadline imposed by Trump.  China said it would retaliate if the US pursues customs threats, as well as the country's economic resilience and ability to weather a tariff escalation. The market was hammered on Thursday's early trading day on the basis of "sell first, ask later questions", but recovered from the lows of the session until the end of the trading session.
LPL Financial Ryan Detrick is not worried: "Even if tariffs rise tomorrow, there is still time for a solution and minimal impact on the global economy," he wrote Thursday: "But the clock is ticking and both sides still have some big differences to solve. "
Jamie Cox by The Harris Financial Group believes that some potential could open up the fog of the trade war. "Many investors have been waiting for a withdrawal to use capital that was otherwise late in the rally of the first quarter of 2019. Now you have your chance," he wrote, able to find out if you want
(MSFT) at 130, you should love it at 125. "
Not all stocks lost. Barron & # 39; s has selected some of the best performers of the day and recommended some options to prepare their portfolio for both possible scenarios – escalation or agreement.
While all eyes are now on trade, the latest economic data are displayed indicating that inflation remains subdued and the US labor market still looks good
April's PPI rose compared to the previous month by 0.2%, which was compared to the monthly increase of 0.6% in March, but largely in line with expectations. Initial jobless claims were 228,000 for the week ended May 4, down from 230,000 in the previous week, but above the consensus estimate of 215,000, according to FactSet.
The four-week moving average of jobless claims rose to 220,250, the third increase in a row. Despite the upward trend, claims remain well below 300,000, a key threshold that is generally associated with a healthy labor market. Jim Baird Plante Moran Financial Advisors The recent rise in claims after three consecutive weeks around the 200,000 threshold could be worrying, especially given the looming economic slowdown, "Baird wrote on Thursday. "However, the fact that claims have held at around 230,000 in three consecutive weeks and are not rising further, gives the certainty that the pace of layoffs is not accelerating."
Baird believes that the recent volatility in claim information could also play a role in part due to the Easter and Passover holidays and the school vacations, which can all distort the numbers.
The Hot Stock
Tapestry's stock (TPR) rose to the top of the S & P 500 on Thursday.
Tapestry's stock gained $ 2.61 or 8.5% to 33.36 US dollars Brands achieved a gratifying quarter and introduced a repurchase plan.
Over the past 12 months, Tapestry shares have fallen by 26.5%.
The biggest loser
The stock (OXY) collapsed at the bottom of the index as it de facto became the buyer of
The Occidental stock lost $ 3.88 or 6.4% to $ 56.33.
The stock (CVX) declined to increase its bid for Anadarko after Occidental outperformed its original offering, meaning that Occidental is likely to finalize the deal. However, investors may not be happy with their post-acquisition debt profile and would prefer cash back.
In the 12 months following the end of the takeover period, Occidental shares fell 31.6%.
– Teresa Rivas
Write to Evie Liu at email@example.com