US stocks finished on a mixed note going into the holiday-shortened Thanksgiving week, as investors mulled over the latest developments in Sino-US relations and remarks from top Fed officials, even as disappointing earnings from chip maker Nvidia weighed on investor sentiment.
Wall Street's main market gauges flickered into life on Friday afternoon in New York, reversing early losses and moving into the green, on the heels of upbeat remarks from the US President regarding the chances of his administration being able to strike a trade deal with Beijing.
The US central bank's second-in-command noted recent volatility in stock markets, but continued to defend the need for gradual rate hikes.
Nvidia stock fell by as much as 19% in extended hours trading on Thursday and continues to plunge on Friday after the company reported results for the third quarter of its 2019 fiscal year that fell short of analysts’ expectations.
Huawei boss Richard Yu said he aims to make the company the number one smartphone player in the world by 2020 after overtaking Apple this year.
US stocks opened mostly down on Friday as investors mulled over the latest developments in Sino-US relations, while disappointing earnings from chip maker Nvidia weighed on sentiment.
US industrial production edged higher last month on the back of sharp increases in the output of business equipment and construction.
Outgoing European Central Bank President, Mario Draghi, sounded a confident note on the outlook for the euro area economy, describing a recent slowdown as a 'soft patch', but said policymakers needed to be "patient and persistent" in providing monetary stimulus.
Markets in Asia finished in a mixed state on Friday, with sentiment taking a hit from ongoing political turmoil in the UK, as a number of ministers resigned from Theresa May’s government in the wake of the UK striking a Brexit agreement with the European Union.
Blackberry has agreed to buy artificial intelligence and cybersecurity company Cylance for $1. 4bn in cash.
US stocks looked poised for a weaker open on Friday as investors mulled over the latest developments in Sino-US relations, with chip makers likely to see some pressure following disappointing earnings from Nvidia.
Walmart has been targeted by a new bill that would prevent large companies from completing stock buy-backs unless their employees are paid at least $15 an hour, which was introduced by senator Bernie Sanders.
North Korea leader Kim Jong-Un inspected a new “tactical” weapon for the first time in nearly a year this week, reported the country’s state media on Friday.
The US imposed economic sanctions on 17 Saudi Arabian officials late on Thursday after the killing of journalist Jamal Khashoggi last month.
Tobacco stocks tumbled on Wall Street after US regulators announced new restrictions on flavoured electronic cigarettes and potential bans on menthol cigarettes and flavoured cigars.
Wall Street trading began with losses on Thursday, following on from those seen during the previous session, as the dollar surged against the pound and investors continued to eye headlines around trade talks between the US and China.
Walmart turned in a stronger-than-expected set of sales figures ahead of the all-important holiday season, leading the retailer to boost its full-year outlook and put rival Amazon on notice.
Cryptocurrencies were adding to their Wednesday plunge with the best-known of them, Bitcoin, down 12. 61% to $5,428.
US jobless claims edged only slightly higher last week, but some economists believed there were signs in the data that, at least for now, momentum in the jobs market might be topping out.
US retail sales grew more quickly than expected last month, boosted by sales of motor vehicles, building materials and at gasoline stations.