Stocks Opened Lower amid Trade Concerns

U.S. stocks opened lower on Friday, amid further concerns about trade relations between the U.S. and its international counterparts. The Dow Jones Industrial Average lately fell 166.55 points, or 0.64%, to 25,696.13. The S&P 500 declined 19.83 points, or 0.69%, to 2,856.49. The Nasdaq Composite was down 60.11 points, or 0.76%, to 7,837.94.

Oil futures climbed Friday for a fourth straight session, as any potential demand worries tied to stock-market volatility were offset by supply concerns linked to Middle East tensions. West Texas Intermediate crude for June delivery rose 64 cents, or 1%, to $63.51 a barrel. July Brent added 44 cents, or 0.6%, to $73.06 a barrel.

The White House said on Friday that President Donald Trump is delaying a decision by up to six months on whether to impose tariffs on imported cars and parts to allow for more time for trade talks with the European Union and Japan.

Hewlett Packard Enterprise Co. has agreed to buy U.S. supercomputer maker Cray Inc. in a deal valued at about $1.4 billion as the firm works to become more competitive in high-end computing.

Deere & Co on Friday reported a 6.1% fall in second-quarter profit, hit by higher production costs and lowered its full-year outlook for profit and sales. The company said it now expects full year equipment sales to rise by 5 percent, compared with a 7 percent rise, previously.

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