Markets around the world are pointing in different directions Thursday, as investors monitor the latest developments in the trade spat between the U.S. and China.
On Wednesday, U.S. Treasury yields came under pressure after Beijing announced it would counter the most recent round of U.S. tariffs with its own. The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods.
In total, 333 goods have been picked out by China, including vehicles, various types of fuels, recyclables and fiber optical cables. It followed an announcement by the U.S. Trade Representative’s office that the States would begin gathering levies on an additional $16 billion in Chinese goods from later this month.
Coming up Thursday, investors will focus on key economic data including jobless claims and producer price index (PPI) data, both due out at 8:30 a.m. ET, followed by wholesale trade at 10 a.m. ET.