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Mid-Day Update: Wall Street Mixed Amid Fresh Trade Concerns; Apple Hits $1 Trln Mark

Major US stock indices were mixed around midday on Thursday as markets were spooked by the latest developments surrounding the trade dispute between the US and China after the Trump administration signaled that it is considering more than doubling its proposed tariffs on Chinese imports. The Nasdaq turned positive, however, after Apple ( AAPL ) became the first US company to reach $1 trillion in market value.

In economic news, the initial jobless claims rose 1,000 to 218,000, as expected, in the week ended July 28 after bouncing 9,000 to 217,000.

Factory orders rose 0.7% in June, versus the 0.9% forecast, after a 0.4% May gain.

Across the Atlantic, equities were also pressured by trade related concerns, while the Bank of England raised rates, as expected.

Crude oil is up 1.52% to $68.72 per barrel. Natural gas is up 2.47% to $2.825 per 1 million BTU. Gold is down 0.42% to $1,222.40 an ounce, while silver is down 0.30% to $15.405 an ounce. Copper is down 0.55% to $2.7325 per pound.

Among energy ETFs, the United States Oil Fund is up 1.85% to $14.35, with the United States Natural Gas Fund is up 2.29% to $23.18. Among precious-metal funds, the VanEck Vectors Gold Miners ETF is down 0.45% to $21.02, while SPDR Gold Shares is down 0.21% to $114.90. The iShares Silver Trust .

Here's where the markets stand at mid-day:

US MARKETS

NYSE Composite Index is down 0.43% to 12,847.21

Dow Jones Industrial Index is down 0.39% to 25,235.74

S&P 500 ( SPX ) is up 0.34% to 2,822.63

Nasdaq Composite Index is up 0.55% to 7,749.47

GLOBAL SENTIMENT

FTSE 100 is down 0.97% to 7,578.54

DAX is down 1.55% to 12,540.26

CAC 40 is down 0.62% to 5,464.14

Nikkei 225 is down 1.03% to 22,512.53

Hang Seng Index is down 2.2% to 27,715.84

Shanghai China Composite Index is down 2% to 2,768.02

NYSE SECTOR INDICES

NYSE Energy Sector Index is down 0.85% to 12,032.48

NYSE Financial Sector Index is down 0.64% to 8,049.17

NYSE Healthcare Sector Index is down 0.16% to 15,410.16

UPSIDE MOVERS

(+) AAPL (+2.5%) To pay $145.1 million in damages in patent infringement dispute with Quarterhill

(+) ETP (+12%) Agrees to takeover by Energy Transfer Equity

(+) TSLA (+10.1%) Q2 sales top estimates, adjusted loss misses Street mark

DOWNSIDE MOVERS

(-) TRIP (-15.5%) Tops Q2 earnings estiamte, misses on revenue

(-) TEVA (-9.7%) Q2 earnings top estimate, misses on revenue

(-) X (-9.4%) Tops Q2 estimates

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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