(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: Wall Street shares extended losses in late trade on Friday after CNBC reported that the next round of U.S.-China negotiations was in flux, looking set to end a seesaw week the same way they started with selling on worries about the escalating trade war.
The Dow Jones Industrial Average lost 98 points, or 0.38%, to 25764, after falling about 200 points in early trading. The S&P 500 dipped 0.59%, as losses in energy and industrial shares in the broad index offset gains in utility stocks. The technology-heavy Nasdaq Composite lost 0.1.04%.
Meanwhile, the Trump administration reached a deal with Canada and Mexico that end U.S.-imposed tariffs on steel and aluminum imports, removing a major barrier to the three countries’ new trade pact.
A jump in U.S. consumer sentiment also helped boost investors’ confidence about the health of the U.S. economy. American household sentiment rose to the highest level since 2004 in May, driven by a brighter outlook for the economy, the University of Michigan on Friday.
In Friday’s action, shares of Deere fell 6.3% after the company lowered its guidance for profit and equipment sales for the current fiscal year as its customers continue to face headwinds in the agriculture industry.
The yield on the benchmark 10-year Treasury note fell to 2.394% Friday from 2.407% Thursday. The WSJ Dollar Index, which tracks the dollar against a basket of currencies, rose 0.2%.
The British pound has fallen against the dollar for five-straight sessions amid growing Brexit uncertainty. It was last down 0.6% at $1.2725. Trade tensions also prompted a slide in the Chinese yuan, which fell 0.5% against the dollar.
In commodities markets, Brent crude oil fell 0.7% to $72.14 a barrel, while gold lost 0.8% at $1,275.90 an ounce.
Elsewhere, the pan-continental Stoxx Europe 600 fell 0.4%. Chinese indexes led Asian markets lower, with the Shanghai Composite falling 2.5% and Hong Kong’s Hang Seng falling 1.1%. Japan’s Nikkei bucked the trend with a rise of 0.9%.
FYI:
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-05-17/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-index-futures-point-lower-putting-rebound-in-danger-after-china-casts-doubt-on-further-trade-talks-2019-05-17/printWSJ:
https://www.wsj.com/articles/global-stocks-dip-as-trade-hopes-falter-11558079273Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-16/stocks-in-asia-set-to-gain-as-u-s-rebound-grows-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/nasdaq-sp-500-break-key-support-cap-week-with-losses/CNBC:
https://www.cnbc.com/2019/05/17/stock-market-investors-worry-rising-trade-tensions.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-seesaws-amid-heightened-trade-tensions-idUSKCN1SN15XU.K:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-drops-as-just-eat-rues-amazon-backing-rival-exporters-cushion-fall-idUKKCN1SN0PDEurope:
https://www.reuters.com/article/europe-stocks/trade-rhetoric-weighs-on-european-shares-idUSL4N22T1URAsia:
https://www.marketwatch.com/story/stocks-rally-in-japan-but-retreat-in-hong-kong-and-mainland-china-2019-05-16/printBonds:
https://www.cnbc.com/2019/05/17/bond-market-treasury-yields-tick-lower-as-trade-tensions-continue.htmlCurrencies:
https://www.cnbc.com/2019/05/17/forex-market-us-economic-data-euro-and-british-pound-in-focus.htmlOil:
https://www.cnbc.com/2019/05/17/oil-market-middle-east-tensions-opec-supply-decision-in-focus.htmlGold
https://www.cnbc.com/2019/05/17/gold-market-us-dollar-us-economic-data-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
