Investors paused Wednesday morning, waiting for the next step in the tariff trading between the U.S. and China.
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Dow Jones futures were lower by 0.28%. The S&P 500 was down 0.45% and the Nasdaq Composite was off 0.44%.
U.S. stocks surged Tuesday following a speech by Chinese President Xi Jinping in which he said he would open the country’s economy and lower import tariffs on products, including cars.
The Dow Jones Industrial Average gained 428.90 points, or 1.79%, to 24,408. The S&P 500 jumped 43.71 points, or 1.61%, to 2,656.87. The Nasdaq advanced 143.96 points, or 2.07%, to 7,094.30.
Facebook shares rose 4.5%, their best performance in two years, as CEO Mark Zuckerberg appeared in Congress to testify on the social network’s data privacy policies
In Asian market trading, Japan’s Nikkei slipped by 0.5%, the first decline in 3 days.
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Hong Kong’s Hang Seng rose 0.8%.
China’s Shanghai was higher by 0.9%.
European markets opened lower.
London’s FTSE was down 0.26%. France’s CAC was off 0.21% and Germany’s DAX was lower by 0.29%.
On the U.S. economic calendar, investors will get another inflation report in the form of consumer prices. On Tuesday, March wholesale prices increased by 0.3%.
The Fed will also release the minutes of the last policy setting meeting.
