Bloomberg reported that China plans to buy $20 billion of American farm products in a year and would consider increasing purchases in future rounds of negotiations. The $20 billion would return US farm product imports back to the 2017 levels before the US began to levy tariffs, according to the report.
3M shed nearly 4.1% after the industrial conglomerate cut its full-year earnings guidance after sales fell in the latest quarter to miss expectations. Despite the slide, industrials added 0.1% as United Technologies (UTX) rose 2.5% and Boeing (BA) added almost 1.2%.
Tech shares surged nearly 1.5% as Microsoft added 2% after its fiscal first-quarter results beat views as cloud sales surged. PayPal (PYPL) surged 8.6% after payment company reported stronger-than-expected third-quarter results after the market close on Wednesday. Micron Technology (MU) added 5.5%.
Twitter shares dropped nearly 21% after the social-media company’s quarterly results missed views due to “unexpected headwinds” in its ad business. Twitter weighed on the communication services sector, which ended more than 0.7% lower. Fox (FOXA) shed 2.8% while Comcast (CMCSA) fell 1.9%.
Health care shares lost 0.6%, pulled lower by Johnson & Johnson’s (JNJ) 1.8% slide after the pharmaceutical giant after the company cut its previously reported third-quarter earnings by $3 billion due to a proposed settlement of opioid-related litigation.
Baxter International (BAX) dropped more than 10% after the pharmaceutical company announced an investigation of misstatements in its non-operating income for 2014 through the first half of this year.
Align Technology (ALGN) surged nearly 15% after its quarterly results beat views.
In economic news, durable goods fall more than expected in September to snap a three-month streak of gains while sales of newly built homes fell last month.
The Dow Jones Industrial Average slid 0.1% while the Standard & Poor’s 500 gained nearly 0.2% The Nasdaq Composite rose 0.8%.
This post was originally published on Health Opinion