Stocks rise modestly as investors weigh contrary China trade reports; Boeing shares weigh on Dow

Boeing shares under pressure after reports of a new flaw in the company’s 737 MAX jet fleet Investors are digesting conflicting reports on the state of U.S.-China trade negotiations Semiconductor stocks seen adding to Wednesday’s rally; Advanced Micro Devices and Nvidia shares rise.

U.S. stocks edged mostly higher Thursday morning, as investors parsed conflicting reports on U.S. China trade relations, while the Dow fell amid reports of a new flaw with Boeing Co.’s troubled 737 MAX jet fleet.

The Dow Jones Industrial Average DJIA, -0.07%  lost 18 points, or 0.1%, to 26,521, dragged lower by Boeing Co.’s BA, -2.43% shares, which fell 2.8% early Thursday.

CNN reported that new issues with the Boeing 737 fleet’s computer system had emerged which could delay the aircraft’s’ return to the air after a world-wide grounding back in March. The fleet was grounded after crashes of the Lion Air flight 610 and Ethiopian Airlines flight 302, which killed 346 people.

The S&P 500 index SPX, +0.30%   traded up 12 points, or 0.4%, at 2,925 and The Nasdaq Composite index COMP, +0.45%   rose 48 points, or 0.6%, at 7,956.

Meanwhile, the Wall Street Journal reported that Chinese President Xi Jinping will present President Donald Trump terms to resolve a market-rattling trade confrontation ahead of an expected meeting at the sidelines of the G-20 gathering of developed countries set to take place in Osaka, Japan, this weekend.

Terms include the removal of a ban on the sale of U.S. technology to Chinese telecommunications giant Huawei Technologies Co., the removal of punitive tariffs, and an end to a request for China to buy additional U.S. exports.

The demands raise some doubts that the two sides can achieve a detente and comes after a report from the South China Morning Post that a tentative U.S.-China truce

Read More Here...

Bookmark the permalink.