Wall Street edges lower as trade concerns loom

Published: May 19, 2018 10:45:31 | Updated: May 22, 2018 11:44:33


File Photo (Reuters)

US stocks were mostly lower on Friday, benchmark S&P 500 stock index dipped on persistent trade concerns, while US 10-year Treasury yields declined from a near seven-year peak.

The Dow Jones Industrial Average rose 1.11 points to 24,715.09, the S&P 500 lost 7.16 points, or 0.26 per cent, to 2,712.97 and the Nasdaq Composite dropped 28.13 points, or 0.38 per cent, to 7,354.34.

The US dollar rose for a fifth straight session against a basket of currencies. The dollar index rose 0.22 per cent.

Investors were digesting moves from earlier in the week, when the benchmark 10-year US Treasury note yield broke above 3.1 per cent and oil topped $80 a barrel.

Oil prices settled lower on Friday but benchmark Brent logged a sixth week of gains. The US crude settled down 0.3 per cent at $71.28 a barrel, while Brent settled at $78.51, down 1.0 per cent.

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