Both the cryptocurrency and US stock markets slipped into the red on Thursday, with the bitcoin price and Dow Jones Industrial Average futures taking losses ahead of the opening bell despite a bevy of positive news for equities traders.
As of am 8:12 am ET, Dow futures implied opening bell losses of 70 points or 0.29 percent, while S&P futures were down 0.42 percent and Nasdaq futures were flashing losses of 0.5 percent.
At one point on Wednesday, a buoyant Dow looked like it would smash through 24,000, but the rally stalled at 23,985 and the index ultimately closed at 23,879.12 for a gain of 91.67 points. The S&P 500 gained 0.4 percent to close at 2,584.96, and the Nasdaq rose 0.87 percent to 6,957.08.
US & China to Keep in ‘Close Contact’ on Trade Deal
This morning’s pullback, which could end the Dow’s winning streak — its longest since November — came despite more indications that the United States and China made significant progress toward forming a trade agreement that will end the trade war between the two economic heavyweights.
On Thursday morning, China’s Commerce Ministry released a short statement that referred to the recently-concluded round of talks as “broad, deep and meticulous” discussions that laid the “foundation for addressing areas of common concern.”
Here’s the full statement (translation by CNBC):