Investors have recently waved off the tit-for-tat exchange of newly applied trade tariffs placed on U.S. and Chinese goods.
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However, the latest round of escalated tariffs has brought a reaction from Alibaba Chairman Jack Ma.
Dow Jones futures were rising by 0.05 percent. The S&P 500 added 0.02 percent and the Nasdaq Composite was off 0.02 percent.
Ma is backing down on his promise to create 1 million jobs in the U.S. over the next five years, amid the ongoing trade war between President Trump and China.
The billionaire previously told Trump before his inauguration in January 2017 that he would commit to creating new jobs but recanted those sentiments in a Chinese news outlet on the heels of a new round of tariffs this week from both countries.
On the U.S.-Canada front, Canadian Foreign Minister Chrystia Freeland met U.S. Trade Representative Robert Lighthizer in Washington on Wednesday with the two sides still disagreeing on major issues.
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Two meetings were held. Leaving their afternoon meeting, Freeland told reporters the talks had been constructive and said she would meet Lighthizer again on Thursday, according to Reuters.
In Asian markets, China’s Shanghai Composite index was down 3.32 points, or 0.12 percent.
Hong Kong’s Hang Seng Index ended the day up 0.3 percent.
Japan’s Nikkei stock index finished the day basically flat.
In Europe, London’s FTSE is lower by 0.1 percent, Germany’s DAX is higher by 0.1 percent and France’s CAC gained 0.3 percent.
The Dow Jones Industrial Average climbed Wednesday as traders digested the latest economic data while the continuing tit-for-tat trade war between China and the U.S. weighed on investor sentiment.
The Dow added 158.80 points, or 0.61 percent, to 26,405.76. The S&P 500 was up 3.64 points at 2,907.95. The Nasdaq Composite ticked 6.07 points lower to 7,950.04.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26405.76 | +158.80 | +0.60% |
| SP500 | S&P 500 | 2907.95 | +3.64 | +0.13% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7950.0378 | -6.07 | -0.08% |
Data released Wednesday included August housing starts, which came in at an annual rate of 1.28 million units, up 9.2 percent year over year and higher than analyst estimates. August housing permits, a proxy for future housing starts, came in at an annual rate of 1.23 million units, below the 1.31 million consensus estimate.
Thursday’s economic calendar includes the weekly report on jobless claims and the monthly report on existing home sales and a check on manufacturing in the Mid-Atlantic region.
FOX Business’ Leia Klingel and Jade Scipioni contributed to this article.
