Wall Street opens lower on doubts over US-China trade truce

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US stock indices opened the second session of the week lower as optimism over the US-China trade truce dissipated amid unclear details about the agreement reached between Presidents Donald Trump and Xi Jinping and doubts over their ability to end the current dispute.

Federal Reserve Bank of New York President John Williams is due to hold a press conference about local employment and labor force trends at the Federal Reserve Bank of New York.

A scheduled Congress testimony by Fed Chair Jerome Powell tomorrow Wednesday was delayed after President Donald Trump declared the day an official holiday in honor of late President George H.W Bush.

Later this week, Powell will speak about the economy and rural America at the Housing Assistance Council’s annual event, in Washington DC, while the payrolls report is expected to show no change in the unemployment rate at 3.7%.

Stock Performance 

As of 03:53 GMT, Standard and Poor’s 500 fell 0.61%, or 16.90 points to 2,773.47, while Dow Jones slumped 0.64%, or 165.23 points to 25,661.20.

Tech-heavy NASDAQ dropped 0.60%, or 44.80 points to 7,396.71.

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