Stocks traded lower on Friday amid weak overseas data, but remained on track to post solid weekly gains after the release of better-than-expected earnings, once they hit their record highs, maybe it’s time for a correction again? China has seen its slowest growth in nearly three decades, raising concerns about the impact of the US trade dispute.
China’s gross domestic product grew 6% annually in the third quarter, the slowest pace in 30 years. The news comes from China, which is trying to get more discounts from the US before signing a temporary phase-1 deal, agreed last week.
More than 70 companies in the S&P 500 reported third-quarter earnings this week. 81% of these companies posted better-than-expected results.
Coca-Cola is trading 2.3% higher after earnings were expected at $0.56 per share in the third quarter, with net revenues of $9.5 billion.
Trader Georgi Bozhidarov