But late Thursday, President Trump ordered the U.S. Trade Representative to consider placing tariffs on $100 billion in duties on Chinese imports.
The moves follow U.S. tariffs that were imposed earlier this year on Chinese steel and aluminum, which also prompted retaliatory measures from China. "We're not quite sure what the long term strategy is". China, in response, pledged to hit back with more tariffs to offset the costs, a move that worries farmers and their lobbyists, which pleaded with the Trump administration to abandon the new tariff proposal in fear of retaliation from one of the biggest buyers of U.S. crops.
Facebook (FB.O), Amazon (AMZN.O), Alphabet (GOOGL.O) and Netflix (NFLX.O) - collectively known as the "FANG" group - were up between 1.2 percent and 2.6 percent.
Nixon, of Northern Trust, said businesses also support the idea of making changes in America's trade relationship with China.
Investors are expecting another Quarter of strong profit growth, and the reports will give investors more insight into the effects of the recent corporate tax cuts on the economy as well as company profits and spending.
New luxury SPACE hotel set to open in 2021
It would orbit 320 kilometers above the earth and tourists will able to witness an average of 16 sunrises and sunsets a day. The next portion will be completed in-person at Orion Span's state-of-the-art training facility in Houston, Texas.
Nonfarm payrolls increased by 103,000 last month, the Labor Department said, the fewest in six months and lower than economists' forecast of 193,000 jobs. Johnson & Johnson sank $2.99, or 2.3 percent, to $127.72 and health insurer UnitedHealth dropped $59, or 2.6 percent, to $223.18. The unemployment rate remained low and the job market looks fundamentally healthy, but it's possible some employers are struggling to find workers. -China trade tensions stoked investors worries.
The U.S. Treasury puts the closing yield on the 10-year note at 2.77%.
Bond prices rose Friday, sending yields lower.
Apple skidded $2.14, or 1.2 per cent, to $170.66 and Cisco Systems declined 63 cents, or 1.5 per cent, to $41.19.
Shares of Facebook also rose, adding 1.7%.
Boeing rose 1.9% and Caterpillar gained 1.5%.
The German DAX jumped 2.9% and the CAC 40 in France rose 2.6%.
For the week, the Dow lost 170 points, or 0.7%, to 23,932.76.