Wall St cuts losses after Chinese foreign minister comment
By Caroline Valetkevitch NEW YORK (Reuters) - The S&P 500 reversed losses to trade flat on Thursday after the Chinese foreign minister said the United States has shown good will by waiving tariffs on Chinese products. Stocks had been lower earlier as the release of a whistleblower report tied to the Democrats' impeachment move against President Donald Trump kept investors cautious along with a drop in Facebook shares following an antitrust investigation report
By Caroline Valetkevitch
NEW YORK (Reuters) - The S&P 500 reversed losses to trade flat on Thursday after the Chinese foreign minister said the United States has shown good will by waiving tariffs on Chinese products.
Stocks had been lower earlier as the release of a whistleblower report tied to the Democrats' impeachment move against President Donald Trump kept investors cautious along with a drop in Facebook shares following an antitrust investigation report.
A whistleblower report released earlier in the day alleged that Trump not only abused his office in attempting to solicit foreign interference in the 2020 U.S. election, but that the White House also tried to "lock down" evidence about that conduct. The report is seen as central to the Democrats' impeachment inquiry of Trump.
At 3:32 p.m. ET, the Dow Jones Industrial Average <.DJI> fell 2.21 points, or 0.01%, to 26,968.5, the S&P 500 <.SPX> gained 0.07 points, or 0.00%, to 2,984.94 and the Nasdaq Composite <.IXIC> dropped 29.16 points, or 0.36%, to 8,048.23.
(Additional reporting by Ambar Warrick and Medha Singh in Bengaluru; Editing by Nick Zieminski)
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By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.