Stocks finished mixed Thursday. The Dow added 7 points to 25,709 while the S&P 500 fell 2 points to 2,808. The Nasdaq Composite slipped 12 points to 7,630.
U.S. equities fluctuated throughout the session as investors assessed the latest trade news. Today’s reports indicated the proposed meeting between President Trump and Chinese President Xi has been delayed until April as the two sides continue to negotiate a new pact. On the data front, separate updates showed import and export prices both increased more than projected in February. Initial jobless claims ticked up more than anticipated to 229,000 in the most recent week. Another release showed new home sales unexpectedly declined in January, which followed December’s upwardly revised reading.
Seven of 11 S&P 500 sectors finished in negative territory. Materials were the laggard on the session due to declining metal prices. The Financials and Technology groups helped offset broader market weakness as JP Morgan added 0.9% to $105.34 and Apple climbed 1.1% to $183.73. Shares of Facebook were off 1.8% to $170.17 amid news the social media giant is under federal investigation into its data sharing practices.
Breadth was negative on issues by 8:7 on the NYSE and by 7:6 on the Nasdaq. Composite NYSE Volume totaled more than 2.8 billion shares
Treasuries were weaker with the yield on the 10-year note rising two basis points to 2.63%. In commodities, NYMEX WTI crude added 0.5% to $58.53/barrel. COMEX gold slipped 1.0% to $1,296.30/ounce amid a stronger dollar.