US Stock Market Shows Mixed Signals

The US stock market opened with mixed results on Thursday, as investors reacted to China's denial of ongoing trade talks with the United States and disappointing corporate earnings reports.

China's Stance on Trade Talks

Chinese Commerce Ministry spokesperson Guo Jiakun clarified that China is not engaged in any "economic and trade" discussions with the US, emphasizing the need for the removal of "unilateral" levies. This statement has added to the market's uncertainty.

Corporate Earnings Underwhelm

Recent earnings reports from US-based companies have failed to meet market expectations, contributing to the cautious mood among investors.

Market Movements

The Dow Jones Industrial Average saw a decline of 0.47%, with International Business Machines Corp. leading the drop at 7.51%. In contrast, the Nasdaq 100 gained 0.40%, with Microchip Technology Inc. as the top performer, surging by 6.20%. The S&P 500 remained flat, while the euro strengthened against the dollar, reaching $1.13741.