(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks pared their early gains but remained slightly higher Friday, a day after investors pulled money out of riskier companies such as technology firms in favor of safe-haven assets such as U.S. government bonds.
Energy firms resumed their slide as the price of U.S.-traded oil fell for a fourth consecutive session. Despite those declines, the broader market bounced back slightly from their drop on Thursday, illustrating that even as investors have grown more wary about the effects of the U.S.-China trade standoff on the U.S. and other economies, they remain cautiously optimistic about the future of corporate profits.
On Friday, the Dow Jones Industrial Average added 95 points, or 0.37%, after earlier rising as much as 180 points. The S&P 500 gained 0.14% and the Nasdaq Composite rose 0.11%.
ll three indexes are on pace for weekly declines—as well as steep monthly losses—amid escalating bluster between the U.S. and China, higher tariffs and uncertain economic damage. On Thursday, the Dow industrials lost nearly 300 points, the same day the Federal Reserve Bank of New York warned that tariffs imposed on Chinese imports were costing the average household $813 each a year. The blue-chip index is on pace to notch its fifth consecutive weekly loss, which would mark its longest such losing stretch since 2011.
Worries about the economic impact hit oil prices hard Thursday, with U.S.-traded crude prices dropping 5.7% for their biggest one-day fall since Christmas eve 2018. U.S.-traded crude fell an additional 0.2% on Friday.
Government bond prices slipped and yields rose slightly Friday, rowing back on the trend of investors’ growing preference for safety that has pushed yields generally lower all year. U.S. 10-year Treasury yields were back up to 2.316% from 2.296% on Thursday, which was their lowest level since October 2017.
n Europe, the British pound rose after a week of declines as U.K. Prime Minister Theresa May announced Friday she would resign in two weeks to allow a new leader to try to break log-jammed efforts to agree to a way to leave the European Union.
The Stoxx Europe 600 rose 0.5%, with Germany’s DAX up 0.4%, partially recovering from a near 2% drop Thursday when it was weighed down in part by Deutsche Bank, which slipped 2.4% to close at an all-time low.
Hong Kong’s Hang Seng was up 0.3% and China’s Shanghai A-shares were flat, while the Nikkei 225 slipped 0.2%.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-05-24/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-rise-on-signs-trump-administration-could-soften-huawei-stance-2019-05-24/printWSJ:
https://www.wsj.com/articles/global-stocks-rise-after-selloff-11558685546Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-23/asia-stocks-to-drop-amid-escalating-trade-tension-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-leads-stock-market-caps-volatile-week-with-gains/CNBC:
https://www.cnbc.com/2019/05/24/stock-market-slight-rebound-after-trade-fears-roil-markets.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-st-clings-to-slight-gains-after-trump-sparks-u-s-china-trade-hopes-idUSKCN1SU1CLU.K:
https://uk.reuters.com/article/uk-britain-stocks/uk-stocks-shrug-off-mays-exit-but-brexit-risk-lurks-idUKKCN1SU0NIEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-recover-after-trump-signal-on-trade-war-idUSKCN1SU0M3Asia:
https://www.marketwatch.com/story/asian-markets-mixed-amid-lingering-trade-war-worries-2019-05-23/printBonds:
https://www.cnbc.com/2019/05/24/us-bonds-in-focus-on-wall-street-amid-ongoing-trade-war-worries.htmlCurrencies:
https://www.cnbc.com/2019/05/24/forex-market-us-china-trade-war-us-treasury-yields-in-focus.htmlOil:
https://www.cnbc.com/2019/05/24/oil-market-middle-east-tensions-opec-supply-cuts-in-focus.htmlGold
https://www.cnbc.com/2019/05/24/gold-market-dollar-moves-us-china-trade-war-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 
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