Breaking News

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

12-Dec2018

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 mostly lower as trade worries flare up again

The US markets ended mostly lower on Tuesday, on reports that US negotiators are concerned that China is pushing back against American demands. Chinese officials are reportedly indicating that the US has......

US markets end higher ahead of Fed meeting

The US markets ended higher, with gains of over quarter a percent, on Monday on optimism about a US-China trade deal after China's state-owned Xinhua news agency reporting the US and China have made further......

US markets end higher amid optimism about US-China trade talks

The US markets ended higher on Friday, with gains of over half a percent, amid optimism about US-China trade talks coupled with indications of more Chinese economic stimulus. Chinese Premier Li Keqiang......

Top News

View all news

Power Grid fully utilises JPY 22 billion loan

Power Grid Corporation has fully drawn a 22 billion Japanese Yen (JPY) loan and utilised it to finance capital expenditure for its ongoing and new projects.Power Grid had entered into a JPY 22-billion......

Mahindra deploys six armoured Marksman at Delhi Airport

Mahindra Group has deployed six armoured Marksman vehicles at Indira Gandhi International Airport in Delhi. With this deployment, Delhi airport becomes first to get bullet-proof vehicle in its premises......

Oil India signs MoU with Gauhati University: Report

Oil India and Gauhati University have reportedly signed a Memorandum of Understanding (MoU) on March 19, 2019. The MoU aims to extend the facility of Technology Incubation Centre at Gauhati University......