US Markets React to China's Trade Stance and Corporate Earnings

The US stock market experienced a mixed opening on Thursday, influenced by China's denial of ongoing trade discussions with the United States and a series of underwhelming corporate earnings reports. Chinese Commerce Ministry spokesperson Guo Jiakun emphasized that China is not engaged in any "economic and trade" talks with the US and called for the elimination of "unilateral" tariffs.

Key Market Movements

The Dow Jones Industrial Average saw a decline of 0.47%, or 186 points, with International Business Machines Corp. leading the downturn with a 7.51% drop. In contrast, the Nasdaq 100 gained 0.40%, buoyed by Microchip Technology Inc, which surged 6.20%. The S&P 500 remained flat, showing little movement in either direction.

Meanwhile, the euro strengthened against the dollar, rising by 0.53% to $1.13741, reflecting the day's volatile currency movements.