It’s a cautious end to the week on Wall Street, as earnings from Netflix Inc. (NASDAQ:NFLX) failed to impress investors.
Meanwhile, continued trade tensions kept investors on the sidelines, preventing further gains in tech-heavy indexes already sitting near record levels.
The S&P 500 remained pinned near the 6,300 mark, a key level it has failed to decisively break for the past two weeks.
The Nasdaq 100 edged down to 23,040, while the Dow Jones Industrial Average slipped 250 points, or 0.5%, by midday trading in New York.
According to the Financial Times, President Donald Trump is pushing for a sweeping 15% to 20% minimum tariff on all European Union goods. He is also rejecting any cut to the current 25% duties on EU car imports. Trump has signaled that if no deal is reached by Aug. 1, a 30% blanket tariff on EU imports could be imposed.
Despite the downbeat tone on Wall Street, fresh data on Main Street offered some positive signals.
The University of Michigan’s consumer sentiment index came in at a five-month high for June. …