The benchmark S&P 500 index and the NASDAQ Composite on Friday edged upward to snap a two-day losing streak as positive corporate results offset lingering skepticism over the US and China reaching a trade deal before the March 1 deadline.
Shares of Coty Inc, Mattel Inc and Motorola Solutions Inc jumped after the companies reported better-than-expected quarterly results.
In addition, shares of Electronic Arts Inc, which plunged on Wednesday after the company’s quarterly results, surged after the videogame publisher said that its game Apex Legends had attracted 10 million players in three days.
Electronic Arts and Motorola Solutions were among the top boosts to the S&P 500.
Earlier, US stocks dragged as trade concerns continued to weigh on investor sentiment.
US President Donald Trump on Thursday said that he did not plan to meet Chinese President Xi Jinping (習近平) before the deadline set for reaching an agreement.
US Trade Representative Robert Lighthizer and US Secretary of the Treasury Steven Mnuchin are to travel to Beijing for principal-level meetings on Thursday and Friday, the White House said in a statement.
As Friday’s session wore on, Wall Street’s major indices regained lost ground.
“What’s expected, based on the way the market has performed, is that there is a risk that we’ll see another round of tariff-hiking, but that risk will be overridden by some type of agreement,” said John Stoltzfus, chief investment strategist at Oppenheimer Asset Management in New York.
“These are not indices that are showing extreme investor concern at this point,” he said.
The Dow Jones Industrial Average fell 63.2 points, or 0.25 percent, to 25,106.33, the S&P 500 gained 1.83 points, or 0.07 percent, to 2,707.88 and the NASDAQ Composite added 9.85 points, or 0.14 percent, to 7,298.20.
For the week, the Dow added 0.17 percent, the S&P 500