Stocks rose on Friday, adding to solid weekly gains, but their rise was kept in check amid increasing tensions between the U.S. and key trade partners as the G-7 summit kicked off.
The Dow Jones Industrials gained a solid 75.12 points to end Friday at 25,316.53, as UnitedHealth and Home Depot contributed the most to the gains.
The S&P 500 picked up 8.66 points to 2,779.03, as consumer staples rose more than 1%.
The NASDAQ added 10.44 points to 7,645.51
For the week, the major averages all rose at least 1.2%
In corporate news, Apple dropped 1% after Nikkei reported the company is warning suppliers about a sharp decline in parts orders.
Despite Friday’s decline, it was a solid week for Apple and the rest of the technology sector. The overall technology sector gained 0.7% this week, led by shares of chip maker Advanced Micro Devices and Micron, which rose more than 5.5%. Meanwhile, Apple is also up 0.7% this week.
On Friday, President Donald Trump arrived at the meeting, along with other world leaders — including those who currently govern nations that Trump has inflicted tariffs upon. One aspect that’s put investors on edge is a fresh tweet by Trump, who accused France and Canada of levying “massive tariffs” and establishing “non-monetary barriers.”
This came after French President Emmanuel Macron told reporters that while the U.S. incumbent may not mind being isolated, the other leaders could sign a six-country agreement if need be.
Prices for the benchmark for the 10-year U.S.Treasury hesitated, raising yields to 2.94% from Thursday’s 2.92%. Treasury prices and yields move in opposite directions.
Oil prices slid 32 cents at $65.63U.S. a barrel.
Gold prices lost 40 cents at $1,302.60U.S. an ounce.
This article provided by NewsEdge.