S & P decreases slightly as Apple weighs, trade tensions are easing

NEW YORK (Reuters) – The S & P 500 index ended the day down slightly on Friday, but less than 1% below its historic high, as a decline in Apple's share price helped counter the trade tensions that were taking place. Announce between China and the United States.

Vulnerable industrialists on tariffs have helped keep Dow, the blue chip, in positive territory, which has now won in eight consecutive sessions, its longest streak of victories since May 2018.

The three major US stock indexes recorded their third consecutive weekly gain, ending a week that showed signs of a thaw in the trade war between the two largest economies in the world for months.

Apple Inc (AAPL.O) was the main drag on major equity averages, down 1.9% after Goldman Sachs lowered its price target for the iPhone maker's stock.

Beijing has announced that it will exempt some US agricultural products from new tariffs after President Donald Trump hinted that it could be open to an interim agreement, the latest conciliation gesture on both sides of the trade war for next month's negotiations in Washington.

"Apple retains averages," said Peter Cardillo, chief economist at Spartan Capital Securities in New York. "Another factor is the very strong rise in yields (Treasury), the 10 years have increased significantly. Both of these factors dampen the market and dampen the enthusiasm that an impending trade deal is emerging. "

However, higher Treasury yields had a positive effect on the .SPSY-sensitive financial sector, which rose 0.8%.

On the economic front, US retail sales rose in August to double the rate expected by analysts, according to the Commerce Department, suggesting that strong consumer spending will continue to support the longest expansion. United States economy.

"The consumer is rather smiling," Cardillo added. "As the holiday season approaches, the consumer will likely continue to spend, which bodes well for the consumer-driven economy."

Trade fears and healthy retail sales have allowed US Treasury yields to reach several weeks highs, providing an attractive alternative for risk-averse investors.

Market participants are now turning to the US Federal Reserve, which is expected to lower interest rates by 25 basis points after its monetary policy meeting next week.

The .JII of the Dow Jones Industrial Average Index rose 37.07 points or 0.14% to 27,219.52 points, the S & P 500 .SPX lost 2.18 points, or 0.07% at 3,007.39 and the Nasdaq Composite .IXIC lost 17.75 points, or 0.22%, at 8,176.71.

Of the top 11 sectors in the S & P 500 Index, five closed in the red, with .SPLRCR realizing the highest percentage loss at 1.3%.

Materials .SPLRCM was the largest percentage of winners, with a gain of 1.1%.

Chipmaker Broadcom Inc (AVGO.O) fell 3.4% after the company missed quarterly estimates of its Thursday night business figure and said that although semiconductor demand likely has bottomed out, the timing of 39, a recovery remains uncertain.

Progressive Corp (PGR.N) decreased 5.6% after the insurer reported a 36% decline in net income in August.

Lumber Liquidators Holdings Inc (LL.N) plunged 13.2% after its founder, Thomas Sullivan, announced to Bloomberg that he was delaying his privatization plans for the company.

Tyson Foods Inc (TSN.N), the largest US meat processor, grew 2.0% over the announcement of China's customs duty exemption.

Falling issuance outnumbered growth on the NYSE by a ratio of 1.11 to 1; on the Nasdaq, a ratio of 1.21 to 1 favored the advanced.

The S & P 500 has recorded 20 new highs over 52 weeks and a new low; the Nasdaq Composite recorded 82 new highs and 20 new lows.

The volume of US trade amounted to 6.93 billion shares, compared to the average of 6.75 billion shares of the last 20 trading days.