U.S. stocks fell Thursday morning before recovering, as disappointing earnings compounded with lingering global concerns as China worked to contain a potentially deadly disease that has so far sickened hundreds.
3:17 p.m.m ET: Blackstone CEO: US-China deal is good for the world
Escalating conflict between the U.S. and China has impacted worldwide manufacturing and slowed down “the world’s entire growth,” but negotiations have secured a situation that will be universally beneficial, the private equity chief said at the World Economic Forum in Davos.
2:06 p.m. ET: Markets recover most losses, Nasdaq turns positive
Here’s where U.S. markets were as of 2:06 p.m. ET:
S&P 500 (^GSPC): -0.05% or -1.73 points to 3,320.02
Dow (^DJI): -0.21% or -62.30 points to 29,123.97
Nasdaq (^IXIC): +0.07% or +6.80 points to 9,390.57
Crude oil (CL=F): -2.54% or -1.44 to 55.30 a barrel
Gold (GC=F): +0.45% or +7.00 to 1,563.70 per ounce
1:35 p.m. ET: US fines ex-Wells Fargo CEO Stumpf $17.5 million
US regulators announced actions against eight former Wells Fargo (WFC) executives over a 2016 scandal, Bloomberg reports. The US Office of the Comptroller of the Currency (OCC) fined former CEO John Stumpf $17.5 million and seeks to fine former head of community banking Carrie Tolstedt $25 million. Stumpf is also barred from working in banking.