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New Year Stocks Rally Stalls As Trade Talks And Data Disappoint

Mixed U.S. policy signals applied the brakes

The early-year rally in world stocks ran out of steam in Europe on Thursday and the dollar touched a near-three-month low, as mixed signals from U.S.-China trade talks and caution at the Federal Reserve applied the brakes.

China said the three days of talks in Beijing had established a "foundation" to resolve differences, but gave virtually no details on key issues at stake.

A slew of weak data also dampened the mood. Again in China, factory-gate inflation was the slowest in more than two years, while worse-than-expected industrial figures in France provided more evidence that Europe is spluttering again.

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