Shares closed mixed on Friday, giving an earlier profit after Bloomberg reported President Donald Trump gave instructions to his administration tariffs on imports of Chinese imports by about $ 200 billion – despite a new round of trade negotiations between the world's largest economies, proposed a few days before.
Here is the scoreboard:
Industrial Average Index Dow Jones: 26,154.40 8.41 (+ 0.03%)
S & P 500: 2,905.19 1.01 (+ 0.04%)
Nasdaq Composite: 8,010.04-3.67 (-0.05%)
Shares of large industrial stocks, such as caterpillar (-0.6%) fell after the report. Boeing (+ 0.2%) after the growth of trading by more than 1%. an Apple (-1.14%), which in recent years warned of tariffs can force the company to raise prices, closing lower at 223.84 dollars per share.
As for commodities, oil prices fell by almost $ 1 per barrel, as investors feared that China could 25% tariff on the import of crude oil, West Texas Intermediate, the US index, increased by 0.2% after falling below $ 68 per barrel. Brent is trading at 0.2% and is 78.07 dollars.
Another round of tariffs in the US would lead to the total volume of targeted Chinese products reaching $ 250 billion. USA, and, as expected, will affect consumers more than the fees already imposed.
Beijing, which was quick to meet the first two rounds of Trump tariffs in kind, She said she would answer against further trade escalations. While China does not import enough from the US to comply with duties for the dollar, it can raise tariff rates or use quality measures such as administrative headaches for US companies.
Elsewhere, the Commerce Department reported that retail sales increased by a minimum amount in six months by 0.1% in August, compared to expectations of economists for a 0.4% gain. Other data on Friday showed that import prices showed the largest drop in more than a year and a half in August, in part because of the decline in fuel costs and the rally dollar.