Wall Street stocks finished mostly higher on Friday, concluding a positive week amid optimism about the reopening of the United States economy and progress on a coronavirus vaccine.
At 9.56am ET, the Dow Jones Industrial Average was down 86.21 points, or 0.35%, at 24,387.91, the S&P 500 was down 4.34 points, or 0.15%, at 2,944.17, and the Nasdaq Composite was up 8.51 points, or 0.09%, at 9,293.39.
The FTSE 100 Index opened at 6,015.25 points, up 0.00 points, or 0.00 percent.
US stock indices moved in a flat-to-low range today as simmering Sino-US tensions weighed on markets struggling to gauge the pace of economic recovery from Covid-19.
In New York, the Dow Jones industrial average was down 121.63 points at 24,352.49.
"The markets are expecting a reasonable resumption of economic activity, a manageable increase in coronavirus cases and a manageable situation when it comes to our health care system", said Mike Zigmont, head of trading and research at Harvest Volatility Management.
Earlier this week, the U.S. Senate passed a bill that could lead to the delisting of Chinese stocks from U.S. exchanges. India slashed rates for a second time this year and the European Central Bank, in the minutes from its last meeting, said it was ready to expand emergency bond purchases as early as June.
USA and China trade tensions flared as the Trump administration raised concerns about China's plan to impose a new security law in Hong Kong that threatens the autonomy of the city.
US stocks rallied into the close of trading after whipsawing investors during a volatile week that featured optimism over the reopening of the economy and a renewal of trade tensions. "The issue may well become a major drag on sentiment until USA presidential elections in November". China also opted against setting a Gross Domestic Product target for 2020 as the coronavirus batters the second-largest economy in the world.
"This week started off really strong and put us on a good trajectory", said Matt Stucky, a portfolio manager at Northwestern Mutual. Whether it is an ember or a flame, we are going to put it out. "But we are not closing our country", he declared.
"The future remains uncertain, and thus, we are not confident in saying a second wave can not happen - but the good news, there has yet to be a second wave in re-opened economies", said Tom Lee, founder and head of research at Fundstrat Global Advisors.
Overnight in Asia, markets finished lower. The Shanghai Composite dropped 1.89%; Hong Kong's Hang Seng plunged 5.56%; while Japan's Nikkei-225 slipped 0.8%.
Crude oil futures fell 2.74% at $32.99 per barrel, Brent crude dropped 2.86% at $35.03.
Gold prices gained $5.90 to $1,727.80.
The dollar strengthened as investors moved into haven assets, with the ICE US Dollar Index rising over 0.3%.