Stocks mixed as critical US-China trade talks resume

U.S. stocks were mixed Thursday as President Trump prepared to meet China’s vice premier to discuss the two nations’ trade disputes.

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Liu He was set to visit with Trump at the White House on Thursday afternoon, and investors also watched to see if the government would announce a date for a trade-focused meeting between the president and Xi Jinping, China’s president.

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Trade optimism was tempered by global growth concerns after a surprise drop in German industrial orders.

Shares of Tesla plummeted after it reported a big drop in first-quarter vehicle deliveries, which plummeted 31 percent from the previous three-month period and warned that its first-quarter income will “be negatively impacted.

The company placed some of the blame on “pull forward” demand from the first quarter of 2019 to the fourth quarter of 2018 and also challenges of beginning to deliver its Model 3 compact car to customers in China and Europe for the first time.

Ticker Security Last Change %Chg I:DJI DOW JONES AVERAGES 26332.96 +114.83 +0.44% SP500 S&P 500 2873.25 -0.15 -0.01% I:COMP NASDAQ COMPOSITE INDEX 7895.552534 +46.86 +0.60%

Applications for new unemployment. benefits fell in the U.S. last week to the lowest level in half a century, the latest sign of a tight labor market.

Initial jobless claims, a proxy for layoffs across the U.S., decreased by 10,000 to a seasonally adjusted 202,000 in the week ended March 30, the Labor Department said Thursday.

Besides Tesla, tech company shares paced decliners, while Dow and Harley-Davidson led gainers.

Ticker Security Last Change %Chg TSLA TESLA INC. 267.38 -24.43 -8.37% MU MICRON TECHNOLOGY INC. 42.56 -1.34 -3.05% TTWO TAKE TWO 93.56 -4.36 -4.45% DOW DOW INC 59.65 +2.77 +4.87% HOG HARLEY DAVIDSON 39.81 +1.85 +4.89%

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