US close: Stocks mostly lower as traders look ahead to China talks

(Sharecast News) - Major indices were mostly lower at the close of trading on Friday as market participants looked ahead to talks with Chinese officials over the weekend.

At the close, the Dow Jones Industrial Average was down 0.29% at 41,429.38, while the S&P 500 lost 0.07% to 5,659.91 and the Nasdaq Composite was flat at 17,928.92.

The Dow closed 119.07 points lower on Friday, taking a bite out of gains recorded in the previous session after the White House announced it had struck a trade deal with Westminster, the first deal since Trump's "reciprocal" tariffs were unveiled on 2 April.

Trade was in focus again on Friday, with Treasury Secretary Scott Bessent and trade representative Jamieson Greer both set to meet with their Chinese counterparts in Switzerland over the weekend. The US has kept its 145% tariff rate on Chinese imports unchanged, despite having already instituted a 90-day pause on tariffs for most countries, but Trump said on Friday that an "80% Tariff on China seems right" ahead of talks.

"Many Trade Deals in the hopper, all good (GREAT!) ones!," Trump wrote on social media, a day after his preliminary trade agreement with the UK was announced, with market participants hopeful that the UK deal would establish a framework for the US to secure further deals with major nations.

While no major data points were released on Friday, speeches from a number of Federal Reserve bankers will be in focus, with Adriana Kugler, John Williams, Austan Goolsbee, Christopher Waller, Lisa Cook and Beth Hammack all set to speak throughout the course of the day.

In the corporate space, Pinterest shares were up double-digits after issuing stronger-than-expected Q2 guidance, while Coinbase was in the red on the back of softer-than-expected Q1 revenues and Expedia headed south after offering up disappointing guidance and declining Q1 revenues.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $21.42 2.00%

Boeing Co. (BA) $194.79 1.61%

Chevron Corp. (CVX) $138.42 1.01%

3M Co. (MMM) $142.52 0.99%

Dow Chemical Co. (DOW) $29.49 0.85%

Walt Disney Co. (DIS) $105.94 0.78%

Walgreens Boots Alliance, Inc. (WBA) $11.23 0.67%

Apple Inc. (AAPL) $198.53 0.53%

Caterpillar Inc. (CAT) $325.65 0.43%

Visa Inc. (V) $352.57 0.37%

Dow Jones - Fallers

Amgen Inc. (AMGN) $265.86 -2.28%

Merck & Co. Inc. (MRK) $75.99 -2.14%

International Business Machines Corporation (CDI) (IBM) $249.15 -1.96%

Salesforce.Com Inc. (CRM) $275.18 -1.63%

Unitedhealth Group Inc. (UNH) $380.72 -1.25%

Johnson & Johnson (JNJ) $153.98 -1.08%

Nike Inc. (NKE) $58.32 -1.00%

Coca-Cola Co. (KO) $70.53 -0.91%

Walmart Inc. (WMT) $96.65 -0.80%

Procter & Gamble Co. (PG) $157.55 -0.69%

S&P 500 - Risers

Microchip Technology Inc. (MCHP) $55.33 12.60%

CenturyLink Inc. (LUMN) $4.39 5.41%

Texas Instruments Inc (TXN) $172.27 4.00%

Apache Corp. (APA) $16.72 3.34%

NextEra Energy Inc. (NEE) $70.35 2.97%

AES Corp. (AES) $11.13 2.82%

Dxc Technology Company (DXC) $16.27 2.59%

Ipg Photonics Corp. (IPGP) $60.13 2.38%

Analog Devices Inc. (ADI) $207.49 2.32%

Newmont Corporation (NEM) $53.99 2.20%

S&P 500 - Fallers

Akamai Technologies Inc. (AKAM) $76.25 -10.76%

Expedia Group Inc. (EXPE) $156.66 -7.30%

Kohls Corp. (KSS) $6.71 -4.96%

Nektar Therapeutics (NKTR) $0.59 -4.91%

Illumina Inc. (ILMN) $75.78 -4.78%

Regeneron Pharmaceuticals Inc. (REGN) $527.40 -3.70%

Chipotle Mexican Grill Inc. (CMG) $49.72 -3.36%

Coty Inc. Class A (COTY) $4.67 -3.11%

Pfizer Inc. (PFE) $22.31 -2.90%

IQVIA Holdings Inc. (IQV) $148.87 -2.88%

Nasdaq 100 - Risers

Microchip Technology Inc. (MCHP) $55.33 12.60%

Tesla Inc (TSLA) $298.26 4.72%

Texas Instruments Inc (TXN) $172.27 4.00%

Analog Devices Inc. (ADI) $207.49 2.32%

Intel Corp. (INTC) $21.42 2.00%

Gen Digital Inc. (GEN) $28.92 1.83%

Mercadolibre Inc. (MELI) $2,450.00 1.66%

Wynn Resorts Ltd. (WYNN) $87.91 1.52%

Fiserv Inc. (FI) $184.12 1.51%

Monster Beverage Corp (MNST) $60.99 1.42%

Nasdaq 100 - Fallers

Expedia Group Inc. (EXPE) $156.66 -7.30%

Illumina Inc. (ILMN) $75.78 -4.78%

Regeneron Pharmaceuticals Inc. (REGN) $527.40 -3.70%

NetEase Inc. Ads (NTES) $103.37 -2.93%

Starbucks Corp. (SBUX) $80.29 -2.31%

Amgen Inc. (AMGN) $265.86 -2.28%

Booking Holdings Inc. (BKNG) $5,071.96 -1.81%

Biomarin Pharmaceutical Inc. (BMRN) $58.86 -1.60%

eBay Inc. (EBAY) $69.48 -1.53%

Electronic Arts Inc. (EA) $153.28 -1.53%