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Nasdaq Weak On Tariff Plan; China Growth Stock Breaks Out

Investor's Business Daily
Nasdaq Weak On Tariff Plan; China Growth Stock Breaks Out

Key U.S. equity market indexes retreated on news that President Trump has instructed aides to begin drafting a plan for an additional $200 billion in tariffs on Chinese imported goods. Yet the decline in stocks today remained light. A new China growth stock held above the proper buy point after breaking out this week. News on a 0.1% August month-on-month rise in U.S. retail sales hardly made a dent on Wall Street. Meanwhile, Chinese e-commerce app Pinduoduo (PDD) continued its big-swinging ways, but continued to show strength. Shares, which bolted out of a new IPO base with a 27.64 correct buy point, dropped nearly 4%. But at 28.93, the large-cap growth stock held above the proper entry. Shares