NEW YORK, May 9 (Xinhua) -- U.S. stocks finished mixed on Friday as markets digested the fresh comments from U.S. President Donald Trump about future trade deals and the potential for a tariff reduction on Chinese goods ahead of this weekend's high-stakes negotiations.
The Dow Jones Industrial Average declined 119.07 points, or 0.29 percent, to 41,249.38, while the S&P 500 edged down 4.03 points, or 0.07 percent, to 5,659.91. The Nasdaq Composite Index inched up 0.78 points, ending nearly flat at 17,928.92.
Seven of the eleven S&P 500 sectors closed higher, led by energy and real estate, which gained 1.05 percent and 0.65 percent, respectively. Health care and communication services lagged behind, falling 1.10 percent and 0.62 percent, respectively.
Investor focus remained squarely on China-U.S. trade talks scheduled to take place in Geneva over the weekend. Following Thursday's market rally on news of a U.S.-British trade framework, sentiment was further boosted Friday by speculation that the United States could lower its elevated tariffs on Chinese imports.
U.S. Treasury Secretary Scott Bessent is set to lead the U.S. delegation in this weekend's talks with Chinese officials, with both sides signaling interest in reducing tensions.
Trump posted again Friday, saying, "Many Trade Deals in the hopper, all good (GREAT!) ones," suggesting broader progress may be underway on the global trade front.
Despite Trump's teasing of "many trade deals in the hopper," U.S. investors chose to take a wait-and-see approach prior to the China-U.S. trade talks.
On Friday, Federal Reserve Governor Michael Barr and New York Fed President John Williams both expressed concerns that the expanded trade restrictions -- particularly the steep duties on Chinese imports -- could place additional strain on households and businesses.
"We've learned through experience, not just in the last few years, but over many decades that without price stability, you can't have economic stability," Williams said. "People can't make their long-run plans, whether you're planning to buy a house, or save for your kids' school or for businesses making longer-term decisions."
In corporate news, Pinterest jumped 4.84 percent after issuing a stronger-than-expected revenue outlook, reinforcing confidence in advertising demand despite broader economic headwinds tied to tariffs. Lyft shares soared 28.08 percent after Engine Capital announced it would terminate its activist campaign and withdraw its board nominees. In contrast, Expedia shares fell 7.3 percent after the travel platform missed revenue expectations, pointing to weakening U.S. consumer demand.
Tesla rose 4.72 percent, reaching its highest level since February and notching a third consecutive week of gains, as the electric vehicle maker continues to build investor momentum. Microsoft, Amazon, Broadcom and Apple all ticked up slightly. ■