US Markets Flat With Trade Progress Elusive

Markets got encouraging signals from Federal Reserve Chairman Jerome Powell, who in his second day of congressional testimony said he expected America's record economic expansion to continue.

Stocks finished little changed overall.

The Dow Jones Industrial Average finished a fraction lower at 27,783, while the broader S&P 500 added 0.1 per cent at 3,098 – marking its sixth new high since the start of November.

Meanwhile, the Nasdaq was down less than a tenth of a percentage point, at 8,479.

Beijing's Commerce Ministry on Thursday said the lifting of tariffs imposed by President Donald Trump was a "condition" to reaching the preliminary deal announced last month – suggesting a deal is not imminent.

Peter Cardillo of Spartan Capital Securities said the markets needed positive news in the trade talks to continue gains.

"We need to see any new trade developments to resume the rally," he said. (AFP)