While the S&P closed above its session low, selling intensified in the last hour of trading after the report on Huawei. All three of Wall Street’s major indices had registered record highs earlier in the week when hopes were higher for an imminent “phase one” trade deal. The US-China news gave “a little bit of a weaker tone” to Friday’s market, Jack Janasiewicz, a portfolio manager and strategist at Natixis Investment Managers Solutions in Boston. For the week, the Dow rose 0.6 percent, the S&P gained 0.9 percent and the NASDAQ added 1.7 percent. Declining issues outnumbered advancing ones on the New York Stock Exchange by a 1.86-to-1 ratio; on NASDAQ, a 1.35-to-1 ratio favored decliners.
