Stocks head for loss on week amid growing trade tensions


Clearly, the Nasdaq composite and Russell 2000 small-cap index are the leading indexes at the moment as both hold comfortably above their 50-day moving average lines.

Analysts say no major USA company may have as much to lose in a trade war with China as Boeing, which announced a $37B order for 300 planes from China while Trump was in Beijing last year; also, the company has estimated that China will buy as much as $1T of aircraft over the next 20 years.

Department stores and other retailers fell after the Commerce Department said retail sales declined in February.

The Russell 2000 is up 41.11 points, or 2.7 percent.

Boeing, a major exporter that would stand to lose if trade tensions escalate, dropped 4 percent in midday trading Wednesday.

Trump has already imposed tariffs on steel and aluminum imports as well as on solar panels and washing machines, sparking threats of retaliation from some trade partners.

Signet Jewelers plunged 17 percent after giving weak forecasts for the current year and saying it will cut costs.

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In a separate report, the department said that manufacturers' and trade inventories were estimated at $1,917 billion in January, up 0.6 per cent from the December reading.

The Nasdaq composite lost 29 points, or 0.4 percent, to 7,481.

Micron Technology Inc rose 3.0 percent after Baird analysts raised their price target on the stock by $40 to $100.

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., March 14, 2018. Also rising were high-dividend stocks like utility companies.

The technological Nasdaq Composite finished the day with decrease of 1% and put an end to its 7-day growth.

The S&P 500 is down 39.24 points, or 1.4 percent.

The Dow is up 154.44 points, or 0.6 percent.