Stocks on Wall Street slipped on Thursday while the dollar recouped some losses on the back of positive data ahead of Asia’s Friday trading day. Markets also awaited the release of China trade data during the session, while U.S. inflation and retail sales data are due just ahead of trading day stateside.
U.S. producer prices increased 0.4 percent in September, Reuters said, as investors awaited the release of the consumer inflation data due Friday U.S. time. That release is expected to show an annual inflation rate of 2.3 percent, according to forecasts compiled by FactSet.
Minutes released this week from the Federal Reserve’s previous meeting showed the central bank continued to be divided over the inflation outlook in the U.S.
The dollar edged up against a basket of currencies after four straight days of losses. The dollar index stood at 93.057 at 7:06 a.m. HK/SIN. Against the Japanese currency, the greenback traded at 112.26 yen.
Meanwhile, shares in the U.S. closed lower on Thursday after major U.S. financials reported quarterly results. Earnings from JPMorgan and Citigroup both beat expectations, but shares of the companies finished the session lower.
The Dow Jones industrial average slid 0.14 percent, or 31.88 points, to close at 22,814.01, the S&P 500 finished the session down 0.17 percent at 2,550.93 and the Nasdaq declined 0.18 percent, or 12.04 points, to end at 6,591.51.
Elsewhere, the pound initially slid overnight on news of an impasse in Brexit negotiations, but later rose on a report from German outlet Handelsblatt that the U.K. could remain in the European Union for two more years. Sterling traded at $1.3264 at 7:02 a.m. HK/SIN, its highest levels in more than a week.