Economy
US Economy
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The yield on U.S. 10-year Treasury note yield hit a new multiyear high overnight, returning to a level not seen since 2011.
The S&P 500 and Nasdaq composite closed lower on Friday as tensions between the U.S. and China weighed on investor sentiment while both countries continued negotiations on trade.
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At World Mobile World Congress in Barcelona, Spain, Yang Chaobin, Huawei 5G Product Line, unveiled a range of 3GPP-compliant 5G product solutions.
A ministry spokesman said that the claims were not true while speaking at a daily news briefing about the ongoing trade talks between the world's two largest economies, according to Reuters.
"This is not about economics. It's about politics and geopolitics," said Pushan Dutt.
It will be "very challenging" for the U.S. and China to come to an agreement about trade this week, in part because the Trump administration has been "unclear on what it really wants," a strategist said Friday.
Earnings growth of more than 20 percent has been the worst time for stock market performance, other than the rare instances when profits have declined by more than 25 percent, according to data going back to 1927.
New applications for U.S. jobless benefits increased more than expected last week.
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The yield on the benchmark 10-year Treasury note rose to a new multiyear high early Thursday as a streak of solid economic data continued.
Stocks fell on Thursday after President Donald Trump indicated trade talks between the U.S. and China may not be fruitful.
President Donald Trump said Wednesday his reversal on Chinese company ZTE only relates to a "larger trade deal" his administration seeks with Beijing.
U.S. industrial production was forecast to rise 0.6 percent in April, up marginally from the prior month's 0.5 percent increase.
U.S. homebuilding tumbled in April and permits fell, suggesting the housing market continued to tread water amid shortages of land and skilled labor.
Federal Reserve Chair Jerome Powell's top deputies are edging toward a clash that could shape the pace of interest-rate hikes in coming months.
Borrowers may have missed an opportunity to get the last of the low rates now that yields have moved decidedly higher.
U.S. government debt yields hit multiyear highs Wednesday after a slew of data suggested a stronger economic outlook.
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