Stocks Little Changed Early Friday
NEW YORK (AP) -- U.S. stocks are mostly lower Friday morning after a late loss the day before. Stocks slid Thursday afternoon after Bloomberg News reported that the Trump administration could escalate the U.S.-China trade war next week by putting tariffs on $200 billion in imports. Meanwhile the U.S. and Canada are scheduled to resume trade talks Friday.
KEEPING SCORE: At 10 a.m. Eastern time the S&P 500 index was unchanged at 2,900. The Dow Jones Industrial Average fell 23 points, or 0.1 percent, to 25,963. The Nasdaq composite rose 19 points, or 0.3 percent, to 8,108. The Russell 2000 index held steady at 1,732.
The S&P 500 is on track to finish August with a gain of 3 percent, and the Nasdaq is up 5.6 percent this month.
EARNINGS: Lululemon Athletica jumped 15.1 percent to $157.68 after it raised its forecasts for the rest of the year following a strong second quarter.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Gun and camping gear maker American Outdoor Brands rose 30.8 percent to $12.75 The company said sales picked up and it cut costs while offering fewer discounts. The stock took big losses earlier this year, and it's now almost unchanged in 2018.
Video-compression chipmaker Ambarella dropped 9.4 percent to $36.02 following a weak revenue forecast for the current quarter.
CUPPA JOE FOR COKE: Coca-Cola said it will pay $5.1 billion for the biggest coffee company in Britain. Costa has 2,400 shops in the U.K. and about 1,400 in more than 30 other countries.
Coca-Cola already owns the Georgia and Gold Peak coffee brands, which make bottled and canned drinks, but the purchase of Costa might be a step toward competing with Starbucks. In the last few years Coke has also acquired a minority stake in sports drink company BodyArmor.
Coca-Cola fell 0.2 percent to $44.86.
ENERGY: Benchmark U.S. crude fell 0.4 percent to $69.98 a barrel in New York. Brent crude, used to price international oils, dipped 0.1 percent to $77.92 a barrel in London.
BONDS: Bond prices rose further. The yield on the 10-year Treasury note fell to 2.84 percent from 2.86 percent.
CURRENCIES: The dollar rose to 110.83 yen from 110.05 yen. The euro fell to $1.1637 from $1.1663.
OVERSEAS: France's CAC 40 fell 1.3 percent and Germany's DAX lost 0.8 percent. Britain's FTSE 100 slipped 0.6 percent.
Japan's benchmark Nikkei 225 recouped earlier losses to finish virtually unchanged. South Korea's Kospi rose 0.7 percent and Hong Kong's Hang Seng fell 1.1 percent.
(BE)