Stocks mixed…China’s trade with US shrinks…Tech companies fight misinformation ahead of UK vote
NEW YORK (AP) – Stocks are stumbling in morning trading on Wall Street as investors grow more uncertain about prospects for a trade deal between the U.S. and China. The major stock indexes are mixed, with only the Nasdaq slightly positive, but they remain near record highs set yesterday. Energy stocks are among the biggest decliners in the early going as the price of oil dipped.
BEIJING (AP) – China’s trade with the United States contracted again in October despite optimism about a possible deal aimed at ending a tariff war that threatens global economic growth. A government report shows Chinese imports of U.S. goods fell 14.3% from a year earlier while exports to the United States sank 16.2%. China’s global exports sank 0.9% from a year earlier while imports were off 6.4%, adding to signs of weakening domestic demand.
FRANKFURT, Germany (AP) – German exports rose unexpectedly in September, fueling speculation that Europe’s biggest economy may avoid sliding into a shallow recession by posting negative growth for the third quarter of the year. Germany’s statistics agency says exports rose a monthly 1.5% in September, way ahead of market forecasts for a 0.3% increase. August’s decline was revised to show that exports only fell by 0.9%, half the original estimate of 1.8%.
LONDON (AP) – Social media companies are under pressure to combat political misinformation ahead of next month’s general election in the United Kingdom. The Dec. 12 election will be among the first since Twitter announced a ban on political ads to stem the flow of election-related misinformation. Facebook has been criticized for its policy of not fact checking or removing false political ads, but the company insists it’s taking other steps to safeguard Britain’s election. They include the creation of an operations center to quickly identify online election hoaxes.
NEW YORK (AP) – New York City says it’s finalizing plans to relocate Wall Street’s famous “Charging Bull” statue. A spokeswoman for Democratic Mayor Bill de Blasio tells The Wall Street Journal that the bull will be placed in a new location somewhere near the New York Stock Exchange. The sculptor, Arturo Di Modica, opposes moving the bull from its home on a traffic island. Last month, climate protesters doused the bull with fake blood. In September, a man bashed it with a toy metal banjo.