US stocks hold near record highs

US stocks steadied in early trading on Thursday, near their recent record highs after the release of disappointing data, as the market is keeping an eye on any developments in the trade talks.

The US Fed Chief Jerome Powell said in his congressional hearing yesterday that the current economic growth is in good shape, adding that the Fed will hold rate cuts in the near-term after this year's three cuts to assess their implications on the US economy.

Otherwise, the market's analysts are eagerly waiting for any tangible results from the trade talks, especially reported hurdles according sources close to the talks about China pledge for increasing its purchases of US farm goods.

Data showed today, that the number of unemployment claims in the US increased by 14K to a total of 225K last week (the highest since June), while the PPI rose by 1.1% in October (the slowest pace of growth in 3 years).

As for trading, Dow Jones slipped 0.1% or four points to 27,787 as of 15:12 GMT, and Nasdaq fell by 0.1% or 7 points to 8,475, while S&P 500 held at 3,093.