US Market Indexes Close With Losses on Friday

Traders work on the floor of the NYSE in New York

Traders work on the floor of the New York Stock Exchange in New York U.S

United States stocks were set to open slightly higher on Thursday, with the S&P 500 aiming at a fresh record as strong earnings helped weather the impact of trade tensions.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1 per cent. The stock ended down 4.8 per cent.

Meanwhile, concerns over escalating trade conflict between the USA and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day.

The S&P technology index fell 1 percent, with Intel down 2.8 percent after Goldman Sachs downgraded the stock to "sell".

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Rite Aid fell 10.9 percent and was the most heavily traded stock after the drug store chain and USA grocer Albertsons Cos agreed to terminate their merger agreement.

The Dow Jones Industrial Average fell 16.94 points, or 0.07 percent, to 25,566.81.

The Dow slid 149.44 points, or 0.6 percent. The S&P financial index was down 0.6 per cent. Rite Aid fell 11.5 per cent after the drug store chain and USA grocer Albertsons Cos agreed to terminate their merger agreement.

The tech-heavy index .IXIC was up 0.31 percent at 7,913.03, barely 0.25 percent away from hitting an all-time high.

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The dollar rose against most major currencies as investors bet global trade tensions and a robust US economy would continue to support the currency.

The number of Americans filing for unemployment benefits unexpectedly fell last week, a Labor Department report showed.

Chip stocks fell after Morgan Stanley downgraded the USA semiconductor industry.

Declining issues outnumbered advancers for a 1.63-to-1 ratio on the NYSE and for a 1.06-to-1 ratio on the Nasdaq.

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Oil prices were down slightly as the escalating China-U.S. trade dispute cast doubt on the outlook for crude demand. That compares with the 6.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

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