Wall Street mixed as investors flee growth

China producer prices fell last month at their sharpest pace in three years, hit by Beijing’s trade war with Washington.

China is expected to buy more agricultural products to position itself for a better trade deal, according to a report from the South China Morning Post.

The underwhelming data from China weighed on tariff-sensitive technology stocks, which fell 0.5 per cent on Tuesday.

Investors expect the US Federal Reserve and the European Central Bank to cut rates to bolster the global economy.

Germany’s finance minister suggested the nation was prepared to fight a possible recession with a stimulus package.

“A lot of people are looking to the Fed and other central banks to lower interest rates,” Pavlik said.

“But think about it, if they’re cutting rates it means their economies aren’t very good. It’s a misguided logic.”

The news from Germany, along with easing US-China tensions, sent US Treasury yields to four-week highs, tracking German bonds.

The Dow Jones Industrial Average rose 73.92 points, or 0.28 per cent, to 26,909.43, the S&P 500 gained 0.96 points, or 0.03 per cent, to 2979.39 and the Nasdaq Composite dropped 3.28 points, or 0.04 per cent, to 8084.16.

Of the 11 major sectors in the S&P 500, six ended the session higher, with energy and industrials seeing the biggest percentage gains.

Interest rate-sensitive real estate stocks were the biggest percentage losers, dropping 1.4 per cent.

Apple edged up 1.2 per cent after announcing the November 1 launch date for its streaming service Apple TV+, and unveiled its latest iPhone and Watch updates.

Wendy’s dropped 10.2 after the fast food chain projected a drop in full-year 2019 adjusted earnings.

Wendy’s rival McDonald’s announced it would buy Silicon Valley startup Apprente. Its stock dipped 3.5 per cent and was the

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