Advertisment
The S&P 500 traded lower on Friday as tensions between the U.S. and China weighed on investor sentiment while both countries continued negotiations on trade.
The Dow Jones Industrials gained 40.06 points to 24,754.04, as Boeing and Caterpillar shares rose about 2% each.
The S&P 500 subtracted 1.76 points to 2,718.51, with consumer stocks lagging
The NASDAQ dropped 5.26 points to 7,377.03
The major indexes were on track to post slight weekly losses. Entering Friday's session, the Dow was down 0.5%, while the S&P 500 and NASDAQ had declined 0.3% each
In corporate news, Nordstrom shares dropped after the Seattle-based retailer reported same-store sales that missed analyst expectations.
The miss was enough to overshadow better-than-expected revenue and earnings for the first quarter.
On Thursday, the two largest economies in the world began the second round of trade talks. But President Donald Trump told reporters he doubted the negotiations would be successful.
Tensions between the U.S. and China have increased in recent months as both countries have hit each other with tariffs targeting some of their exports.
Prices for the benchmark for the 10-year U.S. Treasury were sharply higher, lowering yields to 3.08% from Friday’s 3.12%. Treasury prices and yields tend to move in opposite directions.
Oil prices fell eight cents a barrel to $71.41 U.S.
Gold prices moved higher 90 cents at $1,290.30 U.S. an ounce.
