Trump to meet with his top trade advisors ahead of a key deadline with China.Posted on December 12, 2019
If an agreement is not reached by then, additional U.S. levies on Chinese products will take effect.
Apple shares contributed to the slight decline, sliding 1.1% in the premarket after an analyst at Credit Suisse said the company’s iPhone sales in China fell sharply in November. The analyst estimates they dropped by 35.4% on a year-over-year basis.
Uncertainty around trade has led to a muted performance for stocks this week. The major averages are marginally lower week to date entering the session.
On Wednesday, stocks posted slight gains after the Federal Reserve held interest rates steady in a target range of 1.5% to 1.75%. The central bank also indicated it would likely not make any policy changes through at least 2020. The U.S. central bank’s decision to keep borrowing costs unchanged was unanimous, following several dissents in recent meetings.