Press "Enter" to skip to content

US Stocks Looking to Rebound from Losses

U.S. stocks are aiming to a higher open on Friday when Wall Street opens, seeking to rebound from losses spurred by issues what affect an impeachment inquiry into President Trump will have on markets.

The three major equity futures indexes are trading, 0.3 % increased.

The congressional inquiry into Trump is throwing more volatility into a market that already was nervous over U.S.-Chinese trade.

While many analysts say the Trump probe is not prone to affect the market significantly, it does add a degree of uncertainty and could complicate the White House’s efforts to resolve trade disputes with China and other nations.

Thursday, the Commerce Department reported the U.S. economy grew at a modest 2 % in the second quarter, sharply lower than the past year’s 3%-plus growth rates.

On Wall Street, the Standard & Poor’s 500 indexes fell 0.2 %, and the Dow Jones Industrial Average slid 0.3 %. The Nasdaq dropped 0.6 %.

In Asian markets, China’s Shanghai Composite Index ended the day adding 0.1 %, however, lost 2.5 % for the week. It was the final day of trading earlier than Chinese markets close for a weeklong holiday.

Tokyo’s Nikkei 225 closed down 0.8 % and a loss of 0.9 % for the week. Hong Kong’s Hang Seng shed 0.3 %.

Traders in Asia have been inspired by a Chinese Commerce Ministry announcement that importers had agreed to purchase U.S. soybeans as the two sides make conciliatory gestures ahead of trade talks.