Stocks Ended Lower as Trade Worries Persisted

U.S. stocks ended lower on Friday, after President Donald Trump dampened hopes for a U.S.-China trade deal. The Dow Jones Industrial Average fell 90.75 points, or 0.34%, to 26,287.44. The S&P 500 declined 19.44 points, or 0.66%, to 2,918.65. The Nasdaq Composite gave up 80.02 points, or 1.00%, to 7,959.14.

Oil futures ended sharply higher Friday, scoring back-to-back gains after slumping into a bear market earlier this week, dragged down by concerns that a prolonged trade war could sap energy demand. West Texas Intermediate crude for September delivery rose $1.96, or 3.7%, to end at $54.50 a barrel and ended the week with a 2.1% loss. October Brent crude rose $1.15, or 2%, to settle at $58.53 a barrel and saw a 5.4% weekly decline.

The president told reporters that the U.S. would not do business with Huawei, and the trade talks that were scheduled for September might not happen.