· The Dow Jones Industrial Average fell on Thursday amid lingering concern over U.S.-China trade negotiations.
The 30-stock index dipped 22.38 points to close at 24,553.24, led by losses in Merck and Pfizer. The S&P 500 eked out a 0.1 percent gain to close at 2,642.33 as chip stocks lifted the technology sector. The Nasdaq Composite outperformed, rising 0.68 percent to 7,073.46.
· Commerce Secretary Wilbur Ross said earlier on Thursday that China and the U.S. were not close to striking a trade deal. Ross told CNBC’s “Squawk Box ” that the U.S. is “miles and miles ” from a trade deal with China, adding the two countries have “lots and lots of issues.”
His comments come as China and the U.S. try to strike a trade deal before the beginning of March. If they don’t, additional U.S. tariffs on Chinese goods will come into effect. The two countries have been engaged in a trade war since last year.
· Stocks in Asia gained Friday morning despite fresh overnight uncertainties about U.S.-China trade negotiations.
The Nikkei 225 in Japan rose about 0.8 percent in early trade while the Topix index gained nearly 0.7 percent. Shares of conglomerate Softbank Group rose almost 1 percent.
Before market open, official data showed core consumer prices in Tokyo rose 1.1 percent on-year in January, beating an estimated 0.9 percent increase predicted in a Reuters poll. The inflation measure accounts for oil products but does not include fresh food prices.
South Korea’s Kospi advanced 0.42 percent as shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix extended their gains from Thursday.
Reference: CNBC
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