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BUSINESS Tuesday 12 November 2019
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Uncertainty over US-China trade talks pushes stocks lower

NEW YORK (AP) — Stocks chains. to 27,649. The Nasdaq fell
are falling Monday on Wall Investors took more de- 0.3%. The Russell 2000 index
Street as investors weigh fensive positions. Real es- of smaller company stocks
mixed signals about the tate stocks held up better fell 0.5%.
status of U.S. trade talks than the rest of the market. WEEK AHEAD: Investors will
with China. Companies in those sectors be closely watching any
Late last week, Chinese are considered safer in- developments in U.S.-China
officials said both sides vestments when economic trade talks this week as the
agreed to roll back tariffs if growth is threatened. latest corporate earnings
the trade talks progressed. The market remains higher season nears a close. Near-
But Saturday, President so far in the fourth quarter. ly 90% of the companies in
Donald Trump said that re- Hopes for a trade deal, the S&P 500 have reported
ports on how far the U.S. is along with solid economic results, according to Fact-
willing to go on rolling back reports and corporate prof- Set.
tariffs were "incorrect." In- its, have fueled a rally since This will be a relatively quiet
vestors hope the world's In this Nov. 7, 2019, file photo specialist Gregg Maloney, left, early October. week for economic data.
and trader David O'Day work on the floor of the New York Stock
largest economies can Exchange. The S&P 500 index has post- The Labor Department will
make enough progress to Associated Press ed gains for five straight report October data for
avoid another round of weeks. It reached a record the Consumer Price Index
tariffs scheduled to take ef- shed 1%. Technology stocks also fell. high on Friday. on Wednesday and for the
fect next month. Bond markets are closed Qualcomm slipped 2%. The KEEPING SCORE: The S&P Producer Price Index on
Health care companies for the Veterans Day holi- sector is sensitive to shifts in 500 index fell 0.3% as of Thursday. The Commerce
led the decline. Johnson & day. The yield on the 10- trade policy as many of the 12:05 p.m. Eastern time. The Department will report re-
Johnson fell 1%. year Treasury rose to 1.93% companies rely on China Dow Jones Industrial Aver- tail sales data for October
Banks also fell broadly. BB&T late Friday. for their sales and supply age fell 33 points, or 0.1%, on Friday.q

UK avoids recession but economy growing at near decade lows

By PAN PYLAS August and September vestment. On an annual
Associated Press showed monthly declines. basis, the British economy
LONDON (AP) — The British Following the 0.2% contrac- was only 1% bigger in the
economy avoided falling tion in the second quarter, third quarter, its weakest
into recession in the third there had been fears that year-on-year growth since
quarter of the year, but an- the British economy would the first quarter of 2010,
nual growth is running at a fall into recession — com- when Britain was emerging
near-decade low rate as a monly defined as two con- from a deep recession in
result of ongoing uncertain- secutive quarters of nega- the aftermath of the global
ty related to Britain's de- tive growth. financial crisis.
parture from the European Though a recession was With the global economy
Union and a subdued glob- avoided largely because of slowing and Brexit uncer-
al backdrop, official figures resilient household spend- tainty still prevalent in the
showed Monday. ing and higher govern- run-up to Britain's general
The Office for National Sta- ment spending, the British election on Dec. 12, few
tistics said Monday that economy remains relative- economists anticipate any
the economy grew by a ly weak, largely because marked improvement in Britain's Chancellor of the Exchequer, Sajid Javid, looks at new
quarterly rate of 0.3%. That of uncertainty related to the British economic out- build homes during a visit to the Woodgate Housing Estate, near
Crawley, southern England, Monday Nov. 11, 2019.
increase was solely due to Brexit, which is particularly look in the fourth quarter or Associated Press
a firm pick-up in July, as impacting on business in- even next year.q