Trade uncertainties bog down Wall Street, Apple offers some relief

Roman Schwartz
September 3, 2018

At 12:51 p.m. ET, the Dow Jones Industrial Average was down 74.88 points, or 0.29 percent, at 25,912.04, the S&P 500 was down 5.59 points, or 0.19 percent, at 2,895.54 and the Nasdaq Composite was up 13.12 points, or 0.16 percent, at 8,101.49.

The S&P 500 and the Dow Jones Industrial Average were largely flat on Friday hit by concerns about ongoing trade talks between the United States and other major economies, but gains in Apple and Amazon lifted the Nasdaq.

Canada and the United States will make a final push to iron out differences on a pact to revamp the NAFTA by the Friday deadline set by U.S. President Donald Trump.

The Canadian dollar traded down at 76.62 cents US compared with an average of 77.04 cents USA on Thursday.

Capping a low-volume, late-summer week marked by tariff-related volatility, all three major USA indexes looked set to show net gains for the period.

Apple Inc was up 1.1 percent, on track for posting a new high for five straight sessions.

The rock legend driving del Potro at US Open
It's their earliest meeting at a Grand Slam tournament in 20 years. "Definitely a lot of things to do". "I think I played better". There was no need for pep talks for Rafael Nadal or Karen Khachanov during their third-round clash at Arthur Ashe Stadium.

The American stock market surged Wednesday after reports of a potential trade deal with Canada; setting new records for both the Nasdaq composite and the S&P 500 index.

The heavyweight financials sector slipped 0.2 percent.

Declining issues outnumbered advancing ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.26-to-1 ratio favored advancers.

Automakers took a hit with Ford (F.N) down 0.5 percent, GM (GM.N) off 0.4 percent and Fiat-Chrysler falling 1.1 percent.

Eight of the index's 11 major sectors were lower, led by the energy sector's 1.4-per-cent drop as oil prices were pressured by trade worries.

Canopy Growth fell 3.7 percent to 57.55 Canadian dollars while Aphria was down 1.8 percent to 16.01 Canadian dollars.

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