Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end mostly lower on Tuesday


US markets end mostly lower on Tuesday

The US markets ended mostly lower on Tuesday after a contentious fight between President Donald Trump and Democratic leadership over border security. Trump threatened to shut down the government if more money was not allocated towards building a wall along the US-Mexico border. Further, cautiousness too prevailed in the markets on report that the US will condemn China over hacking and economic espionage, potentially ratcheting up tension between the two countries once again. However, down-move remain capped on report that the US and China launched formal trade talks with a phone call. The initial conversation included Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, where they discussed changes to fundamental Chinese economic policies. In the call, China informed US officials that it agreed to reduce tariffs on US autos to 15%, down from 40%.

On the economic front, producer prices in the US unexpectedly showed a modest uptick in the month of November, according to a report released by the Labor Department. The Labor Department said its producer price index for final demand inched up by 0.1% in November after climbing by 0.6% in October. Street had expected prices to be unchanged. Prices for food showed another significant increase, surging up by 1.3% in November after jumping by 1.0% in October. On the other hand, the report said energy prices plunged by 5.0% in November following a 2.7% spike in the previous month. Gasoline prices plummeted by 14.0%. Excluding food and energy prices, core producer prices rose by 0.3% in November after rising by 0.5% in October. Core prices had been expected to edge up by 0.1%.

Dow Jones Industrial Average declined 53.02 points or 0.22 percent to 24370.24 and S&P 500 lost 0.94 points or 0.04 percent to 2636.78, while Nasdaq was up by 11.31 points or 0.16 percent to 7031.83.

Related News

View all news

US markets end higher after Trump says China trade talks to continue

The US markets ended higher on Friday after key negotiators cast a positive glow on trade talks. US Secretary of Treasury Steven Mnuchin indicated that bilateral talks were constructive even though an......

US markets lower after US President claims China broke the deal

The US markets ended lower on Thursday as trade tensions ramped up after US President Donald Trump threatened tariff retaliation on China, which he claims broke the deal. Anxiety over the prospect of a......

US markets end mostly lower on Wednesday

The US markets ended mostly lower on Wednesday as worries over US-China trade talks lingered. A notice in the Federal Register formally laid the groundwork to raise tariffs on $200 billion of Chinese imports......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......