U.S. stocks finished mixed on Friday as investors looked ahead to next week's Federal Reserve decision on interest rates.
The Dow Jones Industrial Average fell 0.59 percent to 45,834.22. The Standard and Poor's 500 slipped 0.05 percent to 6,584.29. The Nasdaq Composite Index rose 0.44 percent to 22,141.1, marking its fifth consecutive record close.
Seven of the 11 primary Standard and Poor's 500 sectors ended lower, with health care and materials leading the declines, down 1.13 percent and 0.97 percent, respectively. Consumer discretionary and utilities were the best performers, rising 0.57 percent and 0.56 percent.
The University of Michigan's preliminary survey showed consumer sentiment fell more than expected in September, while long-run inflation expectations rose to 3.9 percent as households expressed concern about tariffs.
Even so, investors remained confident that the Fed would cut rates at its Sept. 17 policy meeting. Futures markets point to a quarter-point reduction with near certainty, according to the CME FedWatch tool.
On the corporate front, Microsoft climbed 1.77 percent after striking a deal with OpenAI that would allow the artificial intelligence company to shift from a nonprofit to a for-profit model.
Tesla gained 7.36 percent, Apple added 1.76 percent, and Nvidia, Alphabet, Meta Platforms and Broadcom posted modest advances. Amazon was the sole large-cap tech laggard, slipping 0.78 percent.
U.S. stocks close mixed ahead of Fed decision on interest rates
Chinese Foreign Minister Wang Yi said on Thursday that both the United States and Iran have the willingness to resume negotiations, and the international community should encourage both sides to return to the negotiating table and seek effective ways for a political settlement.
China and Canada can jointly play a constructive role in this regard, said Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, in a phone conversation with Canadian Foreign Minister Anita Anand at the latter's request.
Anand briefed Wang on Canada's position regarding the situation in the Middle East, noting that Canada is committed to protecting civilians in the conflict, promoting de-escalation of the situation, preventing the spillover of the conflict, and reducing its impact on the global economy as well as industrial and supply chains.
The Iranian nuclear issue bears on the international nuclear non-proliferation regime, and ensuring the safe passage through the Strait of Hormuz is in the common interests of all parties, Anand said.
Canada stands ready to work with China to push for a ceasefire and promote regional peace and stability, she added.
Wang elaborated on China's principled position, saying that the Iranian nuclear issue should be resolved through dialogue and should not be a reason for the use of force.
The abuse of force will only lead to grave repercussions, and the spillover of the war will threaten regional security and stability, he said.
The two sides also exchanged views on China-Canada relations and agreed that they should implement the outcomes of Prime Minister Mark Carney's visit to China with a positive and pragmatic attitude, resume dialogues at various levels, expand mutually beneficial cooperation, and push for the stable and healthy development of the China-Canada new strategic partnership.
U.S., Iran should be encouraged to return to negotiating table for political settlement: Chinese FM
U.S., Iran should be encouraged to return to negotiating table for political settlement: Chinese FM
U.S., Iran should be encouraged to return to negotiating table for political settlement: Chinese FM
