Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The Dow Jones industrial average rose on Thursday, led by gains in McDonald's. Meanwhile, the Nasdaq composite index snapped a four-day winning streak as declines in Facebook and other major tech names pushed the sector lower.
The 30-stock index closed 95.02 points higher at 25,241.41 as McDonald's rose more than 4 percent. The Nasdaq composite dropped 0.7 percent to 7,635.07 — a day after closing at an all-time high — as Facebook and Netflix both fell more than 1.5 percent. Amazon and Alphabet also contributed to the Nasdaq's losses.
"This seems like a catch-up for the rest of the market," said Mike Bailey, director of research at FBB Capital Partners. "I would expect tech to outperform from here."
Tech has risen sharply in recent weeks, with the sector gaining more than 5 percent over the past month, outperforming the rest of the market.
Tech's decline Thursday also pushed the down by 0.1 percent to 2,770.37 as a 1.6 percent gain in energy shares was negated.
The S&P 500 and the Nasdaq rose earlier in the session after Commerce Secretary Wilbur Ross told CNBC's "Squawk Box " that the U.S. struck a deal with China's ZTE to end American sanctions against the company. Ross noted the deal includes a $1 billion penalty against ZTE and a U.S.-chosen compliance team to be embedded at ZTE.
However, trade concerns lingered as Boeing shares dropped 1.4 percent. Boeing is highly sensitive to trade worries since a large chunk of its business comes from overseas.
Meanwhile, investors loaded up on bonds after a sharp sell-off in emerging markets, led by Brazil. The iShares MSCI Brazil ETF (EWZ) fell 5.1 percent. Peter Donisanu, a strategist at Wells Fargo Investment Institute, said the fall was triggered by capital flows concerns.
"The Brazilian real is getting crushed and now with the Brazilian central bank stepping in [by issuing currency swaps], that is spooking investors," he said.
The benchmark 10-year note yield fell to 2.93 percent from around 2.97 percent on Wednesday.
Thursday's decline comes after a strong day for Wall Street. On Wednesday, the Dow closed 346.41 points higher, supported by bank stocks that surged on higher interest rates amid expectations of an end to easy money in Europe. The SPDR S&P Bank ETF (KBE) rose more than 2 percent on Wednesday, marking its strongest gain since March 26.
Equities have rebounded over the past month, with the major indexes rising at least 3 percent in that time period. Strong economic data, coupled with tech's sharp rise, have helped push stocks higher.
Berkshire Hathaway Chairman Warren Buffett said he expects the economy to perform strongly for years to come. "Right now, there's no question: It's feeling strong. I mean, if we're in the sixth inning, we have our sluggers coming to bat right now," Buffett told CNBC's Becky Quick in an exclusive interview.
"I'm no good at predicting out two or three or five years from now, although I will say this: There's no question in my mind that America's going to be far ahead of where we are now 10, 20 and 30 years from now," he said.