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今日双色球开奖结果 www.xnzvqg.com.cn Stocks closed higher Friday but notched weekly losses as the market worried that?the U.S.-China trade war is hurting economic growth.
The Dow dropped 0.7% this week to post its fifth consecutive weekly decline, its longest losing streak since 2011. The S&P 500 and Nasdaq fell for?a third straight week, their longest slide since December 2018.
The indexes got a small reprieve Friday, however, after President Donald Trump said Thursday afternoon that the ongoing trade war could be over quickly. The Dow rose 95 points, while the S&P 500 added 0.14% and the Nasdaq gained 0.11%.
“We still think the negotiators are going to reach a deal, but it’s clearly going to take a lot longer and be more difficult than investors thought a few weeks ago,” said Kate Warne, an?investment strategist at Edward Jones. “But any glimmer of hope that progress is being made will help stocks rebound.”
U.S. durable goods orders dropped 2.1% last month amid a slowdown in exports and a buildup in inventories. This is the latest economic data set showing cracks in the economy while the world’s largest economies engage in a trade war. IHS Markit said Thursday that U.S. manufacturing activity fell to a nine-year low.
The data sets come at a time when investors are growing more convinced that the trade war will take longer than expected to conclude.
Crude prices dropped 6.6% this week as trade worries spilled over to other markets. Investors also loaded up on Treasurys this week. On Thursday, the 10-year Treasury note yield fell to its lowest level since October 2017.
“It seems, for the moment, [trade] is the only thing investors are thinking about,” said Mike Bailey, the director of research at FBB Capital Partners. “You’ve got this one narrow issue that’s basically spreading across the entire market.”
“Investors had been hoping for more certainty,” Bailey said. “Instead, they’re getting more uncertainty across the board.”
Energy and tech were the worst-performing sectors for the week. The energy sector fell 3.4% while tech — the largest S&P 500 sector by market weight — lost 2.8%.
Chipmakers led tech down this week as the VanEck Vectors Semiconductor ETF (SMH) dropped 5.6%. Qualcomm and Broadcom were the worst-performers in the ETF this week, dropping 18.8% and 11.7%, respectively.
Chip stocks have been under pressure as the U.S. increases pressure on Chinese telecom giant Huawei. Last week, made it harder for U.S. companies to do business with Huawei, before granting a temporary 90-day reprieve for the company.
Apple shares also contributed to the tech losses as several analysts raised concern over the company’s exposure to China. The stock ended the week down 5.3%.
“The growing worries around a US/China elongated trade battle and its implications on the tech space are heavily weighing on the minds of both investors and the companies themselves caught in the cross hairs,” Dan Ives, an analyst at Wedbush Securities, wrote in a note to clients. “The ‘poster child’ for the US/China trade wars continue to be Apple with the stock under heavy pressure as many competitors are yelling fire in a crowded theater around the potential China impact to Cupertino if this situation worsens.
CNBC’s Silvia Amaro contributed to this report.