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Stocks finished mixed Friday. The Dow added 8 points to 26154, while the S&P 500 gained less than one point to 2904, notching its fifth-straight advance. The Nasdaq Composite declined 3 points to 8010.
The major averages pared early session gains following reports that President Trump will maintain plans to implement tariffs on $200 billion of Chinese imports. On the data front, retail sales rose 0.1% in August, below estimates of a 0.4% advance and July’s upwardly revised 0.7% gain. Separately, import prices fell 0.6% in August, the largest monthly decline since early 2016, while export prices slipped 0.1% in the same period. Additionally, a release revealed industrial production rose 0.4% last month, while a preliminary reading from the University of Michigan showed consumer sentiment is edging higher in September.
Seven of 11 S&P 500 sectors closed in negative territory. Financials outperformed in sympathy with rising interest rates, while perceived bond proxies (including Real Estate, Utilities and Telecom) lagged. In earnings, Adobe Systems rose 2.3% to $274.69 after the software company topped profit projections.
Breadth was positive on issues by 4:3 on the NYSE and 7:6 on the Nasdaq. Composite NYSE volume was more than 4.1 billion shares.
Treasuries weakened, with the yield on the 10-year note up three basis points to 3.00% for the first time since August 2. In commodities, WTI crude added 0.5% to $68.95/barrel. COMEX gold was down 0.7% to $1194.20/ounce amid a stronger dollar.
For the week, the Dow gained 0.9%, the S&P 500 added 1.2% and the Nasdaq Composite climbed 1.4%.