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US stocks mixed as oil slides and fresh tariffs weigh on sentiment
The S&P 500 was down 0.1% at 9:53 a.m. Eastern, while Brent crude fell 2.8% to $97.89 a barrel.
US stocks traded mixed on Friday as easing oil prices, corporate earnings and a new round of US tariffs shaped investor sentiment, according to LiveMint Markets. At 9:53 a.m. Eastern Time, the S&P 500 fell 0.1%, the Dow Jones Industrial Average rose 0.2%, and the Nasdaq fell 0.6%.
Oil retreated after briefly surging above $100 per barrel on Thursday following attacks on oil tankers, with Brent falling below the psychological level. The benchmark international crude contract declined 2.8% to $97.89 a barrel, even as concerns about heavy fighting in the Middle East continued to keep energy markets volatile.
Treasury yields also moved lower, with the benchmark 10-year note slipping to 4.68% from 4.71% in the prior session, offering some support to equities. Investors were also assessing the impact of an expanded US trade offensive, with new tariffs affecting 60 trading partners taking effect on Friday.
In company news, semiconductor stocks remained under pressure, with Micron Technology down 5.7% and Broadcom down 2.8%. Verizon rose 2.8% after raising its annual forecast for adjusted profit and free cash flow, while American Express shares fell 6% after reporting higher quarterly profit.
Latest closeWTI crude $92.23 ▲6.2%|Brent $100.54 ▲6.9%|S&P 500 7,408.30 ▼1.2%