Saturday 3 November 2018

US stocks fall as trade concerns return

Markets were mixed on Friday.

The Nikkei 225 soared 2.6 percent and the STOXX Europe 600 rose 0.3 percent but the S&P 500 fell 0.6 percent.

US stocks fell after President Donald Trump's top economic adviser, Larry Kudlow, said the US and China were a long way from reaching a trade deal.

“If the two largest economies in the world can’t agree on trade policy, that’s not great for markets,” said Thomas Hainlin, global investment strategist with US Bank.

A report on Friday showed that the US economy added 250,000 new jobs in October.

“This is a great jobs report,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab.

The jobs report also showed that year-over-year wage gains rose to 3.1 percent from 2.8 percent, which could fuel inflation concerns.

The US 10-year Treasury yield rose to 3.22 percent after the report.

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