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Wall Street will open almost flat



The stock exchanges in New York are expected to open almost flat on Thursday



29.Mar.19 9:26 AM
By Shawn Highstraw
Photo Clipart

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Wall Street will open almost flat
The stock exchanges in New York are expected to open almost flat on Thursday. Investors on Wall Street focus mainly on US-Chinese trade talks in Beijing and some macroeconomic data. The mood remains cautious due to concerns about the weakening world economy.

The American finance minister Steven Mnuchin and trade envoy Robert Lighthizer have arrived in the Chinese capital for trade negotiations. They indicated that they were looking forward to "productive meetings" with Chinese negotiators.

Voorbeurs revealed a new figure on economic growth in the United States in the fourth quarter of 2018. The growth of the world's largest economy was 2.2 percent on an annual basis. An earlier estimate reported an improvement of 2.6 percent. Economists had predicted an adjustment to 2.3 percent on average.

It also turned out that the number of first benefit applications in the US fell by 5,000 last week to 211,000. Shortly after the opening of the trade, data on the provisional home sales in the US are still being reported.

The creator of sports and yoga clothing Lululemon Athletica seems to be making a substantial headway thanks to better-than-expected quarterly figures and good profit forecasts for the entire current financial year. Other companies that came up with results were, for example, business service provider Accenture and PVH, the parent company of fashion brands Calvin Klein and Tommy Hilfiger.

There is also takeover news. The American manufacturer of brake and control systems for commercial vehicles Wabco is taken over by approximately $ 7 billion from the German car supplier ZF Friedrichshafen.

The stock markets in New York closed in red on Wednesday, partly due to pressure on the chip sector. The Dow-Jones index ended up 0.1 percent lower at 25,625.59 points. The broad-based S&P 500 lost 0.5 percent to 2805.37 points and the technology gauge Nasdaq lost 0.6 percent on 7643.37 points.



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