U.S. markets remained almost flat as upbeat earnings from healthcare sector offset the impact of reports that U.S-China trade deal could be delayed
NEW YORK - U.S. stocks ended little changed on Wednesday as a report the U.S.-China trade deal could be delayed until December was offset by gains in healthcare shares.
A senior official of the Trump administration told Reuters a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December, as discussions continue over terms and a venue. “The big headline was Reuters reporting that the signing of ‘phase one’ would potentially be pushed into December. The market sold off on that but nothing major, and right now investors are in a holding pattern, waiting to see if we set new highs and can punch through them,” said Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.
The recent rally to record highs had been fueled by signs of progress in the U.S.-China trade talks along with some upbeat earnings reports.
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