- The Dow, S&P 500, and Nasdaq tilted sideways on Friday.
- The stock market’s rally balked at reports that the US and China may not have agreed to roll back tariffs.
- Now, one columnist warns the markets are “one tweet away” from a trade war “hangover.”
A hesitant Dow Jones sputtered toward a slim decline on Friday after reports emerged that the Trump administration’s tariff rollback faced “fierce” opposition within the White House.
Dow Closes Spectacular Week in Uninspiring Fashion
Following a buoyant week, the US stock market’s major indices failed to trade with much conviction on Friday.
The Dow Jones Industrial Average dipped 15.55 points or 0.06% to 27,659.25. The index is still on track to record a substantial weekly gain.
The Dow’s spectacular week is grinding toward an inauspicious conclusion. | Source: Yahoo Finance
News of the White House’s internal division sent the Dow tumbling roughly 100 points from its session high on Thursday afternoon. It does not look like the index will recoup those losses today.
The S&P 500 edged 4.42 points or 0.14% lower to 3,080.73, while the Nasdaq declined to 8,420.02 for a loss of 14.5 points or 0.17%.
A stronger US dollar prevented precious metals from capitalizing on the reprieve in risk-on sentiment. Silver dipped 0.94%, while platinum and palladium endured pullbacks of at least 1.9%.
The gold price slid 0.28% to around $1,460, placing it even further from the $1,500 handle. Gold is now at risk of recording its worst weekly plunge since early 2017.
Trump Officials Retaliate Against Tariff Rollback Rumors
The Dow and broader stock market had raced to new all-time highs on Thursday,