US Stocks Mixed as Investors Weigh Trump's China Stance
US stocks struggled for direction on Friday as investors digested the latest batch of earnings reports and President Donald Trump's softening stance on China tariffs.
Market Summary
* Dow Jones Industrial Average (^DJI): -0.19%
* S&P 500 (^GSPC): -0.19%
* Nasdaq Composite (^IXIC): -0.34%
Key Developments
* Trump's call for lower interest rates, oil prices, and taxes has boosted investor optimism.
* However, Trump's ability to implement these changes remains uncertain.
* Trump's comments on taking a more lenient approach to China tariffs eased some trade war fears.
* The strong start to earnings season has provided a lift to spirits, but next week's results from Big Tech companies will be crucial.
* Boeing shares fell after the company announced a $3.5 billion quarterly loss due to strikes and layoffs.
* Novo Nordisk shares surged on positive data from its latest weight-loss product.
* Oil prices declined after riding the rollercoaster of Trump's comments.
* Gold hit near-record highs as the dollar weakened.
* Preliminary data showed US manufacturing activity expanded at its fastest pace in seven months.
Upcoming Events
* Next week: Major tech companies release quarterly results, Federal Reserve policy meeting.
* Today (Friday): Existing home sales, consumer sentiment.
Quotables
* "Trump's comments on China tariffs have eased some fears, but investors remain wary of his ability to execute on his threats." - Analyst
* "The upcoming earnings from Big Tech companies will be a key test for the market." - Analyst