Profit-taking to end the week as more tariff news and an announcement on Russia coming Monday from President Trump has investors in a selling mood. The Dow Jones Industrial Average fell 279 points or 0.6%. The S&P 500 fell 20 points or 0.33% while the Nasdaq Composite fell 45 points. Today’s losses pushed the major averages into the red for the week. The Dow Jones Industrial Average fell one percent while the S&P and Nasdaq fell 0.3% and 0.1% respectively.

The large cap techs were higher except for Apple. Amazon and Apple were upgraded with $255 and $240 price targets.  Texas Instruments was higher on an upgrade as well

On the earnings front, Levi Strauss rose 11% on earnings. Drone maker, AeroVironment jumped 11% today as the Defense Department will accelerate demand for their warfare.

The rest of the market was mixed. Toll Brothers was lower on earnings. Banks, telecom and most of the drug and healthcare stocks were lower.

Oil rose 3% lifting the energy sector. Gold was up a percent while bitcoin rose 4% today and 6% on the week.

Interest rates were higher this week on news of more tariffs. The 10-year Treasury yield rose 7 basis points to 4.41%. The 30-year yield was up 9 basis points to 4.95%. The 2-year yield was higher by 2 basis points to 3.88%

Friday’s losses pushed two of the three major averages into the red for the week. The Dow Jones Industrial Average was on pace to end the week with a 1% decline, while the S&P was tracking for a loss of 0.2%.

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