Indexes trade near flat, pause as trade deal doubts resurface
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks were near unchanged on Friday after President Donald Trump said he has not agreed to a rollback of U.S
By Caroline Valetkevitch
NEW YORK (Reuters) - U.S. stocks were near unchanged on Friday after President Donald Trump said he has not agreed to a rollback of U.S. tariffs sought by China, fueling doubts about the progress of trade talks between the two countries.
Trump, in remarks to reporters at the White House, poured cold water on the idea of rolling back the tariffs, something that he said Beijing would like him to do. On Thursday, officials from both countries said that the United States and China had agreed to such a deal.
"Markets are getting tired" of the back-and-forth on the trade front, said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. "It's gone from the deal is close, to no, it's not, and we've been through this before."
Helping to boost the S&P 500, Walt Disney Co
The Dow Jones Industrial Average <.DJI> fell 27.19 points, or 0.1%, to 27,647.61, the S&P 500 <.SPX> gained 2.53 points, or 0.08%, to 3,087.71, and the Nasdaq Composite <.IXIC> added 27.06 points, or 0.32%, to 8,461.57.
Of the 446 S&P 500 companies that have reported results so far, roughly three-quarters have beaten profit estimates, according to IBES data from Refinitiv. The numbers, to some extent, reflect significantly lowered analysts' forecasts.
Also on Friday, shares of Gap Inc
Declining issues outnumbered advancing ones on the NYSE by a 1.04-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.
The S&P 500 posted 23 new 52-week highs and two new lows; the Nasdaq Composite recorded 68 new highs and 80 new lows.
(Reporting by Caroline Valetkevitch in New York; Additional reporting by Arjun Panchadar and Agamoni Ghosh in Bengaluru; Editing by Leslie Adler)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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