S&P wavers with US-China trade talks in focus

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U.S. stocks opened flat on Thursday following a recent run of gains, as lack of fresh developments on trade talks with China and worries about global economic growth kept risk appetite in check.

FILE PHOTO: Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., April 2, 2019. REUTERS/Lucas Jackson/File Photo 04 Apr 2019 09:45PM(Updated: 05 Apr 2019 01:40AM) Share this content

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REUTERS: The S&P 500 hovered near six-month highs on Thursday, with losses in technology stocks countered by gains in Boeing Co and Facebook Inc, as investors waited for more clarity on the U.S.-China trade talks.

Negotiations continued in Washington after meetings last week in Beijing, as the two countries worked toward resolving their long-standing trade dispute which has cast a shadow over global economic growth.

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President Donald Trump is set to meet Vice Premier Liu He, who is leading the Chinese side in the talks, later on Thursday.

“The market is taking a breather today. It’s in a kind of wait-and-see period after a week of strong rally,” said Paul Brigandi, head of trading at Direxion Funds in New York.

“We’re awaiting some more details on the U.S.-China negotiations and we’re awaiting the jobs report. That’s giving people reason to wait and see what the next steps are.”

Investors will get a clearer picture of the strength in the labor market on Friday, when the non-farm payrolls report is expected.

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Hopes of a trade deal have driven the S&P 500 to a strong start since the beginning of the quarter and it has closed higher all of this week. The index is near its highest since Oct. 10 and 2per cent away

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