U.S. Stocks Close Mixed as Trade Talks Loom
U.S. stocks finished the week with mixed results. Investors were cautious ahead of upcoming trade talks between U.S.adn Chinese officials in Switzerland.The Dow Jones Industrial Average dropped 0.3%, while the Nasdaq composite inched up slightly. The S&P 500 was nearly flat, down 0.07%.
This trading activity comes after a preliminary U.S.-U.K. trade deal. However, new tariff talk has kept markets on edge. President Donald Trump suggested an “80% Tariff on China” on Truth Social. This is lower than the current 145% but still higher than the sub-60% expectations earlier in the week.
Mark Hackett of Nationwide noted, “We’re in a period of volatility until we see concrete results.” He added that this week’s progress was encouraging but subject to news fluctuations.
Bitcoin Soars Amid Institutional Interest
Bitcoin (BTC) surged above $104,000 on friday,driven by strong institutional investments. Spot Bitcoin ETFs hit a new high with cumulative flows at $40.33 billion, according to Bloomberg data. Despite some gains being lost, BTC was trading around $103,000 after Wall Street closed.
Wells Fargo reported a positive surprise, with only 13 companies withdrawing earnings guidance this season. This is fewer than expected. Companies like Ford, Delta, and Snap were among those that pulled forecasts.
