Major US equity indices witnessed a mixed opening on Friday as traders reacted to the US President Donald Trump’s latest comments on trade disputes.
Investors turned cautious after Trump, in an interview with CNBC, said that he was ready to impose tariffs on all $505 billion of Chinese goods imported to the US if China does not back down on its trade policies. The comments pointed to worsening US-China trade relations and resurfaced global trade war fears, holding investors from placing aggressive bullish bets.
However, positive quarterly results from General Electric and Microsoft prevented any significant downside, at least for the time being. Investors focus will remain glued to the earnings season, which will play an important role in setting the near-term tone for the markets.
At the time of writing this report, the Dow Jones Industrial Average was down by around 20-points to 25,053, while the broader S&P 500 Index held near yesterday’s closing level. Meanwhile, tech-heavy Nasdaq Composite Index outperformed the broader markets and climbed nearly 25-points to 7,850.
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