Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average ended up slightly Thursday. Earlier in the session the blue-chip index had fallen on a report saying President Donald Trump was in no rush to complete a trade pact with China, but Trump and Treasury Secretary Steven Mnuchin said discussions with China were progressing quickly.
- Social media company Snap Inc. (SNAP) climbed after longtime BTIG bear Richard Greenfield upgraded the stock to buy from neutral due to expectations of rising advertising revenue. Shares ended up 12.2%.
- Dollar General (DG) posted weaker-than-expected fourth quarter earnings and issued full-year profit guidance for 2019 that also fell shy of forecasts. Shares tumbled 7.5%.
Wall Street Overview
Stocks ended mixed Thursday as the three major stock indexes reacted to reports on stalled trade talks with China. President Trump had said he was no rush to complete a trade pact with China, but on Thursday both he and Treasury Secretary Steven Mnuchin said that discussions with China to end the months-long trade war are progressing quickly.
Trump said he could not say whether a final deal would be reached.
The Dow Jones Industrial Average ended up 7.05, or 0.03%, at 25,709, the S&P 500 was down 0.09% and the Nasdaq fell 0.16%.
Prices of imported goods in the U.S. rose more than expected in February, driven by a jump in fuel costs. Import prices rose 0.6%, after falling 0.5% a month earlier, the Labor Department said. Economists had expected a 0.3% increase. In addition, initial claims for state unemployment benefits rose 6,000 to a seasonally adjusted 229,000 for the week ended March 9. Economists had forecast claims rising to 225,000. The four-week moving average of initial claims slipped 2,500 to 223,750 last week.
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