All eyes are on Uber, which will debut on the New York Stock Exchange on Friday
U.S. stocks fell at the start of trade Friday, with major indexes heading for their worst weekly return this year after the Trump administration raised import duties on $200 billion in Chinese goods.
For the week, the Dow and S&P are on track to lose 2.8% and the Nasdaq is down 3.4%. Those losses, if they hold, would mark the worst weekly return since the market selloff in December. Shares of Symantec Corp. SYMC, -15.74% were under pressure before the start of trade Friday, after the firm reported an earnings miss and downbeat guidance on Thursday evening, and said that CEO Greg Clark had left his role. The stock fell 16.7% early Thursday
Year-over-year price growth edged up to 2% from 1.9%. That is the highest rate of inflation since November, but well below last year’s peak of 2.9%. Core inflation ticked up to a 2.1% annual rate from 2%. New York Fed President John Williams makes remarks at the 21st annual Bronx Bankers breakfast at 10 a.m.
“The only good news here is that China stays for talks on Friday. The fact that talks were only 90 minutes suggests there was little movement on both sides. The talks Friday will probably focus on how to get talks back on track, said analysts at Danske Bank, in a note to clients.
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