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S&P Stares at First Negative Week in a Month

Stocks were little changed on Friday as investors wrapped up the market's first weekly decline in over a month amid lingering worries around U.S.-China trade talks.

The Dow Jones Industrials added 73.07 points to 27,839.36. The Dow was down 0.8% and headed for its first one-week pullback in five.

The S&P 500 eked up 3.39 points to 3,106.93. For the week, the S&P 500 was down about 0.6% and was set to snap a six-week winning streak.

The NASDAQ fell 5.09 points to 8,501.12. The NASDAQ was on pace to end a seven-week winning streak, dropping 0.6% for the week.

On the data front, consumer sentiment for November came in better than expected. The index rose to 96.8 from 95.5 in October. IHS Markit's gauges for the U.S. services and manufacturing sectors also rose.

U.S. President Donald Trump told Fox News both sides were "very close" to reaching a trade agreement, noting: "We have a very good chance to make the deal.”

His comments came after Chinese President Xi Jinping said Friday that Beijing wants to work for a trade deal with the U.S. but is not afraid to "fight back." Xi also told a visiting U.S. business delegation that China holds a 'positive attitude' toward the trade talks.

On the data front, consumer sentiment for November came in better than expected. The index rose to 96.8 from 95.5 in October. IHS Markit's gauges for the U.S. services and manufacturing sectors also rose.

Prices for the 10-Year U.S. Treasury gained slightly, lowering yields to 1.76% from Thursday's 1.77%. Treasury prices and yields move in opposite directions.

Oil prices removed 76 cents to $57.82 U.S. a barrel.

Gold prices barely surfaced 10 cents to $1,463.70 U.S. an ounce.

S&P Stares at First Negative Week in a Month



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