Stocks Start Week Uneven; US Economists Less Bullish About The Next 2 Years

NEW YORK - U.S. stocks capped a day of choppy trading with an uneven finish Monday as investors wrestled to make sense of newly pessimistic outlooks for the global economy.

Traders also weighed another troubling drop in long-term bond yields, which many see as a warning sign of a possible recession.

Large-company stocks ended broadly lower, led by drops in big technology companies. Apple fell 1.2 percent after announcing several new services including streaming video and news. Small-company stocks fared better.

The bout of volatile trading left the S&P 500 index slightly lower, extending the benchmark index's losses from a broad market sell-off last week.

"Today's moves are very reflective of very different interpretations of the environment and risks ahead," said Luke Tilley, chief economist at Wilmington Trust. "Different investors and different investment shops are interpreting the data very differently."

Despite the market's recent slide, the S&P 500 index is still up more than 11 percent so far in 2019, an unusually strong start to a year.

Poll: Economists see slowdown

WASHINGTON - The nation's business economists foresee a sharp slowdown in U.S. economic growth over the next two years, in sharp contrast to the Trump administration's predictions that growth will accelerate this year and next.

That finding comes from the latest survey by the National Association for Business Economics released Monday. Its economists collectively project that growth, as measured by the gross domestic product, will reach a modest 2.4 this year and just 2 percent in 2020. Among the key factors in their dimmer assessment are a global slowdown and the ongoing trade conflicts between the Trump administration and several major trading partners.

Still, the NABE economists say they think a recession remains unlikely any time soon.

For 2018, economic growth amounted to 2.9 percent, the government has estimated.

China cuts giant deal with Airbus

PARIS - Chinese President Xi Jinping was greeted with full honors Monday during a state visit to France where he attended the signings of multibillion-dollar deals, including a major sale of 300 aircraft from European plane maker Airbus to China.

The French presidency said the China Aviation Supplies Holding Company has ordered 290 Airbus A320 and 10 Airbus A350 planes. The amount of the deal was not specified. The global amount of the sale is estimated to $34 billion at list prices, although buyers often secure discounts.

"We are honored to support the growth of China's civil aviation with our leading aircraft families," said Guillaume Faury, president of Airbus Commercial Aircraft. "Our expanding footprint in China demonstrates our lasting confidence in the Chinese market and our long-term commitment to China and our partners."

BA jet lands in the wrong place

LONDON - The flight on Monday seemed to go perfectly well, until passengers realized that their plane had landed in both the wrong city and the wrong country.

The British Airways flight from London was supposed to head to Duesseldorf, Germany, but ended up in Edinburgh, the capital of Scotland.

The airline said Monday the problem started when an incorrect flight plan was filed by WDL Aviation, which operated the flight on behalf of British Airways. Officials say the pilot followed the flight plan for Edinburgh, and that air traffic control officials also were following the same flight plan and saw nothing amiss.

WDL aviation said it was trying to determine the cause of the "obviously unfortunate mix-up."

The flight was refueled and set off again, this time directly to Duesseldorf.

British Airways is set to launch inaugural service between London and Charleston on April 4.

US gas prices are on the rise

CAMARILLO, Calif. - The average U.S. price of regular-grade gasoline shot up 16 cents a gallon over the past two weeks, to $2.66.

Industry analyst Trilby Lundberg of the Lundberg Survey says the rise comes as supplies tighten while refineries undergo maintenance in advance of increased demand during the summer driving season.

Lundberg says Sunday that the current retail price is the same as it was a year ago.

The highest average price in the nation is $3.48 a gallon in the San Francisco Bay Area. The lowest average is $2.29 in Baton Rouge, La.

The average price in South Carolina has risen more than 24 cents in the past month and about 9 cents since last week to $2.39, according to GasBuddy's daily survey of 3,028 stations around the state Monday.

German business confidence turns up

BERLIN - A closely watched survey shows that business confidence in Germany, Europe's biggest economy and one of South Carolina's largest trading partners, is improving after six months of declines.

The Ifo institute said Monday that its monthly confidence index rose to 99.6 points in March from 98.7 in February. Managers' assessment of their current situation was slightly better, while their expectations for the next six months improved more significantly.

The overall performance exceeded the expectations of economists, who had predicted a reading of 98.7.

Germany has seen a string of disappointing economic data and forecasts over recent months, with its performance dragged down by one-time factors related to new car emissions standards. There are also concerns over Brexit uncertainty and global trade disputes. But the economy is considered to be in generally solid state.