Stocks Opened Lower on Renewed Trade War Fears

U.S. stocks opened slightly lower on Friday on worries of an escalation in trade war after President Donald Trump toughened his stance against China. The Dow Jones Industrial Average lately fell 18.79 points, or 0.07%, to 25,045.71. The S&P 500 was down 0.04 points, or 0.00%, to 2,804.45. The Nasdaq Composite gained 19.75 points, or 0.23%, to 7,845.05.

Oil futures traded lower Friday, on renewed trade-war fears after President Donald Trump said he was ready to impose tariffs on all $505 billion worth of Chinese imports. West Texas Intermediate crude for September delivery fell 31 cents, or 0.5%, to $67.93 a barrel. September Brent crude was flat at $72.58 a barrel.

President Donald Trump has indicated he is willing to put tariffs on all $505 billion of Chinese goods the U.S. imports.

Microsoft Corp. added a strong outlook to quarterly results that topped Wall Street estimates. In total, they suggested overall first-quarter revenue of $27.35 billion to $28.05 billion.

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