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By Herbert Lash
NEW YORK (Reuters) - The dollar slid and global equity markets traded little changed on Thursday as enthusiasm over Apple shares was offset by doubts about the likelihood of a "phase one" trade deal before a new round of U.S. tariffs on Chinese imports begins in 10 days.
Treasury yields rose on reports indicating a resilient U.S. economy, including a fall in weekly jobless claims and a decline in the U.S. trade deficit, which suggested trade could contribute to growth in the fourth quarter.
But gold edged higher as mixed messages on the U.S-China trade negotiations stirred uncertainty. U.S. President Donald Trump's remarks on trade during his London visit for the NATO summit baffled investors. Trump said talks with China were going "very well" at one meeting while warning at another that a deal may come only after U.S. elections in November 2020.
MSCI's gauge of stocks across the globe <.MIWD00000PUS> rose 0.21%, lifted by gains overnight in Asia and Apple <APPL.O> on Wall Street. Citigroup raised its price target for the largest U.S. company by market cap to $300 from $250 a share. Apple rose $1.33 to $265.24.
Trump again reiterated on Thursday that talks with China were "going well" and he said something could happen regarding tariffs on Dec. 15, "but we're not discussing that."
Trump also said the United States may take action on trade with countries that are not contributing enough to the North Atlantic Treaty Organization.
In addition to the conflicting statements on trade, and with impeachment hearings in Congress, some investors see Trump as perhaps being weakened slightly, said Rick Meckler, a partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
U.S. tariffs on about $156 billion of Chinese imports that are set to begin Dec. 15, and Trump suggesting he would slap tariffs on French imports, have created uncertainty, he said.
"If the (China) tariffs go into effect, and if we start new trade wars with Europe, most investors will be looking to reduce their stock exposure," Meckler said. "With that period nearby, investors are reluctant to commit to new purchases."
The pan-regional STOXX 600 index <.STOXX> closed down 0.13%.
On Wall Street, the Dow Jones Industrial Average <.DJI> rose 26.74 points, or 0.1%, to 27,676.52. The S&P 500 <.SPX> gained 4.48 points, or 0.14%, to 3,117.24 and the Nasdaq Composite <.IXIC> added 2.88 points, or 0.03%, to 8,569.55.