Advertisment
Blue chips in New York fell on Friday as market participants continued to worry about ongoing U.S.-China trade negotiations as well as slowing economic growth.
The Dow Jones Industrial Average came off its extreme lows of the day, but still finished behind Thursday’s finish by 63.2 points to end Friday at 25,106.33, notching its first three-day losing streak since December.
The S&P 500 shook off earlier losses and actually finished ahead 1.83 points to 2,707.88
The NASDAQ Composite recovered 9.85 points to 7,298.20.
The major indexes were lifted well off their lows in the final minutes of trading. That surge helped the Dow and NASDAQ notch their seventh straight weekly gains. The S&P 500 also posted a small gain for the week.
Qorvo shares dropped $2.03, or 3.1% to $64.50, while Micron Technology lost 80 cents, or 2% to $38.58. Nvidia, meanwhile, regained 75 cents to $148.17.
The Wall Street Journal reported on Friday that the two countries have not yet put together a draft on the matters they agree or disagree. The report comes as a key early March deadline approaches.
It also follows President Donald Trump saying on Thursday he will not meet with Chinese President Xi Jinping before that deadline. White House economic advisor Larry Kudlow also said there is a "pretty sizable distance to go" before China and the U.S. reach a deal.
Prices for the benchmark 10-year U.S. Treasury gained, lowering yields to 2.64% from Thursday’s 2.66%. Treasury prices and yields move in opposite directions.
Oil prices regained nine cents to $52.73 U.S. a barrel.
Gold prices gained $3.80 to $1,318 U.S. an ounce.
