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Wall Street closes flat

Video Credit: Reuters Studio - Duration: 01:12s - Published < > Embed
Wall Street closes flat

Wall Street closes flat

U.S. stocks ended little changed on Friday after news that President Donald Trump instructed aides to proceed with tariffs on about $200 billion more of Chinese products limited gains.

Fred Katayama reports.

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Wall Street closes flat

Wall Street finished flat Friday after trade worries killed a morning rally.

The S&P 500 barely extended its winning streak to a fifth day.

Stocks gained about one percent on the week.

Trade concerns resurfaced Friday after President Donald Trump told aides to go ahead with tariffs on about $200 billion more on Chinese products.

TD Ameritrade trading strategy manager, Shawn Cruz: SOUNDBITE: TD AMERITRADE TRADING STRATEGY MANAGER, SHAWN CRUZ, (ENGLISH) SAYING: "It felt like markets were becoming a little bit more comfortable with these headlines and discounting them a little bit because it just became a routine.

When there's a trade discussion coming up, we're going to propose some tariffs before going to the bargaining table.

But today it looks like they're taking that a little bit more seriously." L Brands jumped.

The owner of Victoria's Secret will close its Henri Bendel stores and website in January.

Financial shares like Bank of America and Citigroup rose, as the benchmark Treasury yield topped 3 percent.

NiSource shares tumbled, weighing on utilities shares.

Fire investigators suspect the company's Columbia Gas unit was linked to a series of gas explosions that rocked Boston suburbs on Thursday.

In Europe, the major indexes closed higher.

Tech and consumer cyclical stocks made the biggest advances.



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