Before the agreement between the United States and China was signed, the shares hardly changed

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US stocks took a breather on Wednesday morning as investors watched another series of corporate earnings results and waited for an early US-China trade deal to be signed later in the day.

<h2 class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "9:32 am ET: Shares open flat “data-reactid =” 17 “>9:32 am ET: Shares open flat

Shares changed little on Wednesday ahead of the planned signing of a US-China phase 1 trade agreement that was scheduled for 11:30 a.m.CET.

Here are the main moves in the markets from 9:33 a.m.CET:

  • S&P 500 (^ GSPC): + 0.03% or +1.09 points to 3,284.24

  • Dow (^ DJI): -0.06% or -16.81 points to 28,922.86

  • Nasdaq (^ IXIC): + 0.24% or + 20.53 points to 9,271.21

  • Crude oil (CL = F): -0.26% or -0.15 to $ 58.08 per barrel

  • Gold (GC = F): + 0.6% or – $ 9.30 to $ 1,553.90 an ounce

<h2 class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "08:34 ET: Goldman, BofA deliver mixed results“data-reactid =” 27 “>08:34 ET: Goldman, BofA deliver mixed results

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Goldman Sachs (GS) and Bank of America (BAC) were the two youngest banks to deliver fourth quarter results after JPMorgan Chase’s record results and Citigroup’s solid performance. “data-reactid =” 28 “> Goldman Sachs (GS) and Bank of America (BAC) were the two youngest banks to report fourth quarter results, after record results from JPMorgan Chase and solid performance from Citigroup on Tuesday was reported.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Goldman Sachs exceeded expectations for total sales but missed fourth quarter earnings“data-reactid =” 29 “> Goldman Sachs exceeded total sales expectations but missed fourth quarter earnings and the bank’s costs rose due to litigation and investment in technology and the newer consumer banking unit.

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Bank of America released stronger than expected profit, However, net income in its key consumer banking unit declined compared to the previous year as net interest income declined in an environment with lower interest rates. The bank generates more than 40% of its income from consumer banking. “Data-reactid =” 30 “> Bank of America posted a profit above expectations, but net income in its key consumer banking unit declined year-on-year. Net interest income declined in an environment with lower interest rates and the bank generates more than 40% of its income from consumer banking.

Both Goldman and BAC had estimated top returns in fixed income trading. This is a continuation of the trend that other major banks saw this week after stronger market activity at the end of last year compared to 2018. Bank of America grew 25%.

<h2 class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "8:30 am ET: Producer prices rise less than expected in December“data-reactid =” 33 “>8:30 am ET: Producer prices rise less than expected in December

US producer prices rose only slightly in December, up 0.1% during the month from an expected 0.2% increase, according to Bloomberg consensus data. Producer prices remained unchanged in November.

Excluding the more volatile food and energy prices, the Department of Labor’s producer price index also rose 0.1%, below the expected 0.2% increase. However, this is still an increase compared to the 0.2% decrease recorded in November.

Wednesday’s PPI report follows Tuesday’s data, which shows only a slight rise in consumer prices in December, indicating low inflationary pressures.

<h2 class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "7:36 am ET: Stock futures mixed before signing the China trade agreement“data-reactid =” 38 “>7:36 am ET: Stock futures mixed before signing the China trade agreement

Equity futures were mixed on Wednesday morning as investors were waiting for the first US-China trade agreement to be signed.

The signing ceremony is expected to take place at the White House at 11:30 a.m., with President Donald Trump signing the contract with Chinese Vice Premier Liu He.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "This comes after a report from Bloomberg Tuesday’s existing tariffs Chinese imports would remain at least until the 2020 elections. “data-reactid =” 41 “> This emerges from a Bloomberg report on Tuesday that existing tariffs on Chinese imports would remain at least until the end of the reporting period, the 2020 elections.

In a joint response to the report, Treasury Secretary Steven Mnuchin and U.S. trade representative Robert Lighthizer said all aspects of the deal would be released on Wednesday, with the exception of a confidential attachment with detailed purchase amounts. There was no agreement on future tariff cuts, the statement said.

Here are the main moves during the pre-market session from 7:36 a.m. (CET):

  • S&P futures (ES = F): 3,288.75, minus 1 point or 0.03%

  • Dow Futures (YM = F): 28,892, up 21 points, or 0.07%

  • Nasdaq futures (NQ = F): 9,081.25, minus 7 points or 0.08%

  • Crude oil (CL = F): $ 58.45 a barrel, up $ 0.37 or 0.64%

  • Gold (GC = F): $ 1,543.20 an ounce, a decrease of $ 7.40 or 0.48%

Traders work on the New York Stock Exchange (NYSE) in New York, the United States, on December 17, 2019. REUTERS / Brendan McDermid

Traders work on the New York Stock Exchange (NYSE) in New York, the United States, on December 17, 2019. REUTERS / Brendan McDermid

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