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The Dow Jones industrial average traded lower on Thursday after a drop in Cisco Systems and Wal-Mart shares, while the continuing assent of interest rates multiyear highs kept the market on edge.
The Dow gained 23.92 points to 24,792.85, with Cisco down 3.4% and WalMart falling 1.7%. Cisco fell after reporting weaker-than-expected sales for its key services business, while WalMart fell despite reporting better-than-expected earnings.
The S&P 500 added 4.54 points to 2,727
The NASDAQ acquired 6.22 points to 7,404.52
Wall Street also looked to Washington as the U.S. and China kicked off the second round of trade talks. U.S. and Chinese officials have indicated that the gap between the two countries is significant, however.
Tensions between the U.S. and china have increased in recent months as both countries have hit each other with tariffs targeting some of their exports. The U.S. also banned companies from exporting goods to Chinese tech companies ZTE. Those tensions have sparked worries that the two largest world economies could engage each other in a trade war.
Prices for the benchmark for the 10-year U.S. Treasury were unchanged, keeping yields at Wednesday’s 3.1%.
Oil prices gained 38 cents a barrel to $71.87 U.S.
Gold prices dipped $3.30 at $1,288.20 U.S. an ounce.
