U.S. stocks seesawed Thursday but finished near where they began the day. Weak housing data and uncertainty over a U.S.-China trade deal clouded investor sentiment. The S&P 500 snapped a three-day winning streak, closing flat.
A&G Capital chief investment officer, Hilary Kramer:
SOUNDBITE: A&G CAPITAL CHIEF INVESTMENT OFFICER, HILARY KRAMER, (ENGLISH) SAYING:
"Certainly, housing has been a real disappointment. And then of course, there's been a lot of news out of mainland Europe. Germany, Italy bad numbers out of there. Bad numbers out of Japan on tool orders. So generally, the economics are bringing us down."
New home sales fell more than expected in January. That dragged down housing and real estate stocks.
Companies with exposure to China such as chipmakers Intel and Nvidia lost ground. President Donald Trump said the U.S. was doing very well in trade talks, but Bloomberg reported a meeting with China's president would be pushed back to April.
Facebook shares dropped. A 17-hour long outage made the social network inaccessible to users worldwide.
Pier 1 Imports shares sank. Sources say the home furnishings retailer has tapped debt restructuring lawyers for help in negotiating with lenders.
Johnson & Johnson shares also fell. A California jury awarded $29 million to a woman who said asbestos in the company's talcum-powder based products she used, Baby Powder and Shower to Shower, caused her cancer.