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Stocks finished lower Friday. The Dow lost 79 points to 25916 while the S&P 500 retreated 6 points to 2871. The Nasdaq Composite slipped 20 points to 7902.
The major averages declined amid lingering trade concerns. In geopolitical news, President Trump signaled willingness to impose tariffs on nearly all Chinese imported goods. Elsewhere, the negotiations between the U.S. and Canada for a NAFTA replacement resumed, but the two parties have yet to reach an agreement. On the data front, non-farm payrolls increased by 201,000 in August, well above projections of 190,000. Average hourly earnings increased more than anticipated in August, advancing 2.9% year-over-year, the largest gain since 2009. Meanwhile, the unemployment rate held steady at 3.9% to remain at a historically low level.
Ten of 11 S&P 500 sectors ended in negative territory with the rate sensitive Real Estate and Utilities groups down the most. Consumer Staples also underperformed as Mondelez lost 2.2% to $42.52. Apple fell 0.8% to $221.30 after the iPhone maker warned that potential tariffs on Chinese goods would hurt their products.
Breadth was negative on issues by 5:3 on the NYSE and even on the Nasdaq. Composite NYSE volume was more than 4.0 billion shares.
Treasuries weakened along the curve with the yield on the 10-year note up six basis points to 2.94%. In commodities, WTI crude gained 0.2% to $67.88/barrel. COMEX gold was down 0.3% to $1195.90/ounce amid a stronger dollar.
For the holiday shortened week, the Dow lost 0.2% while the S&P 500 declined 1.0%. The Nasdaq Composite slumped 2.6%.