FYI: U.S. stocks flipped between gains and losses Thursday as investors continued to weigh global trade tensions and concerns about slowing economic growth.
The Dow Jones Industrial Average ticked up 7 points, or 0.3%, to 25709. The S&P 500 lost 0.9% and the technology-heavy Nasdaq Composite was down 0.16%. Gains in financial shares in the broad S&P 500 were offset by declines in material stocks. All three major averages are at least 1% higher so far this week after suffering their worst week since December.
In Thursday’s action, shares of struggling conglomerate General Electric rose 2.8% as it outlined plans to cut costs and debt but warned investors of another year of lower profits and weak cash flow from its core industrial operations.
Meanwhile, Boeing ’s stock slipped 0.3% as the aerospace giant continued to wrestle with the fallout from a crash Sunday of one of its planes. The U.S. has joined several other countries in grounding 737 MAX airliners. Boeing shares, a big piece of the Dow, have slumped 11% this week.
In Europe, the Stoxx Europe 600 rose 0.8% after U.K. lawmakers late Wednesday ruled out a no-deal exit from the European Union. Lawmakers will now likely vote Thursday in favor of a further proposal to request a delay in Britain’s scheduled exit date beyond March 29.
The British pound fell 0.5% against the dollar Thursday, after rallying around 2% Wednesday following the vote.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was up 0.3%. The 10-year U.S. Treasury yield rose to 2.637% from 2.612% Wednesday. Yields move inversely to prices.
Elsewhere, the Shanghai Composite slid 1.2% while stocks in Hong Kong and Japan were mostly flat.
Of the eleven S&P 500 Sectors, four led by Financials were in positive territory, while Materials with the other seven had a negative day.
WSJ: Markets At A Glance:https://markets.wsj.com/us
Major ETFs % Change:https://www.barchart.com/etfs-funds/etf-monitor
SPDR's Sector Tracker:http://www.sectorspdr.com/sectorspdr/tools/sector-tracker
SPDR's Bloomberg Sector Performance Pie Chart:https://www.bloomberg.com/markets/sectors