US close: Markets mixed on continued trade tension

Wall Street trading finished mixed on Monday, following last week's losses as investors continued to eye trade relations between the US and China.

The Dow Jones Industrial Average ended the session down 0.23% at 25,857.07, while the S&P 500 added 0.19% to 2,877.13 and the Nasdaq 100 was 0.23% higher at 7,447.68.

Despite an upbeat opening call, worries about trade were still very much in focus after data revealed that China's surplus with the US hit a record high of $31bn in August, adding to worries about escalating tensions between the two countries.

The possibility that Trump could slap tariffs on a further $200bn worth of Chinese goods and his latest threat to levy tariffs on another $267bn of products also weighed.

"The $200bn we are talking about could take place very soon depending on what happens with them," Trump said in comments made on Air Force One, as he travelled from Montana to South Dakota.

"To a certain extent, it's going to be up to China. And I hate to say this, but behind that is another $267bn ready to go on short notice if I want. That changes the equation."

CMC Markets analyst David Madden said the trade numbers from Beijing were likely to have “struck a nerve” with Mr Trump, adding that given he thought the US was winning the trade spat on account of the recent weakness in the Chinese stock market, he was likely to stick to his protectionist line.

“Beijing said they would retaliate should the US impose fresh tariffs, and traders are fearful they might weaken the yuan or target US firms operating in China.”

In corporate news, tech giant Apple was down 1.34% after Trump tweeted over the weekend that it should make its products in the US.

“Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive,” the president tweeted on Saturday.

“Make your products in the United States instead of China. Start building new plants now. Exciting!”

Shares in electric car maker Tesla were up 8.46% after tanking on Friday as it emerged that its chief accounting officer and HR boss were leaving.

Elsewhere, CBS Corporation dipped 1.53% in early trade after chairman Les Moonves resigned over the weekend following new sexual misconduct allegations.

Alibaba lost 3,7% after the company said Jack Ma is planning to step down as executive chairman, while United Rentals shot up 5.08% after agreeing to buy BlueLine Rental for $2.1bn.

Dow Jones - Risers

Home Depot Inc. (HD) $210.69 2.16%
Nike Inc. (NKE) $82.10 2.11%
Exxon Mobil Corp. (XOM) $81.72 1.55%
American Express Co. (AXP) $107.30 1.15%
Microsoft Corp. (MSFT) $109.38 1.08%
Walgreens Boots Alliance, Inc. (WBA) $68.80 0.89%
McDonald's Corp. (MCD) $165.07 0.81%
Pfizer Inc. (PFE) $42.06 0.67%
Coca-Cola Co. (KO) $46.06 0.63%
Caterpillar Inc. (CAT) $142.06 0.52%

Dow Jones - Fallers

Travelers Company Inc. (TRV) $127.60 -3.75%
Unitedhealth Group Inc. (UNH) $259.73 -3.68%
Boeing Co. (BA) $341.93 -2.12%
Apple Inc. (AAPL) $218.33 -1.34%
Goldman Sachs Group Inc. (GS) $231.85 -0.88%
JP Morgan Chase & Co. (JPM) $113.71 -0.34%
Procter & Gamble Co. (PG) $82.39 -0.33%
Intel Corp. (INTC) $46.30 -0.32%
Walt Disney Co. (DIS) $110.64 -0.30%
Verizon Communications Inc. (VZ) $54.13 -0.29%

S&P 500 - Risers

Wynn Resorts Ltd. (WYNN) $134.20 4.53%
L Brands Inc (LB) $27.73 4.44%
United Rentals Inc. (URI) $160.00 4.01%
McKesson Corp. (MCK) $130.37 3.88%
CH Robinson Worldwide Inc (CHRW) $100.18 3.88%
J.B. Hunt Transport Services Inc. (JBHT) $127.44 3.63%
Franklin Resources Inc. (BEN) $31.23 3.62%
Broadcom Inc. (AVGO) $240.61 3.45%
Amgen Inc. (AMGN) $202.50 3.16%
Norfolk Southern Corp. (NSC) $180.12 3.16%

S&P 500 - Fallers

Spectra Energy Corp. (SE) $12.76 -6.45%
Brown Forman Corp. Class B (BF.B) $50.73 -6.09%
LyondellBasell Industries (LYB) $106.88 -4.78%
Torchmark Corp. (TMK) $84.47 -4.67%
Tenet Healthcare Corp. (THC) $29.88 -4.66%
PulteGroup Inc. (PHM) $26.89 -4.20%
Robert Half International Inc. (RHI) $72.38 -3.92%
Martin Marietta Mtrl (MLM) $190.54 -3.91%
Travelers Company Inc. (TRV) $127.60 -3.75%
Unitedhealth Group Inc. (UNH) $259.73 -3.68%

Nasdaq 100 - Risers

Tesla Inc (TSLA) $285.50 8.46%
Liberty Global plc Series C (LBTYK) $26.87 4.55%
Wynn Resorts Ltd. (WYNN) $134.20 4.53%
Liberty Global plc Series A (LBTYA) $27.79 4.32%
J.B. Hunt Transport Services Inc. (JBHT) $127.44 3.63%
Broadcom Inc. (AVGO) $240.61 3.45%
Amgen Inc. (AMGN) $202.50 3.16%
QUALCOMM Inc. (QCOM) $72.32 2.76%
Asml Holdings N.V. (ASML) $185.67 2.65%
American Airlines Group (AAL) $39.43 2.60%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $188.39 -2.57%
Mercadolibre Inc. (MELI) $319.43 -2.17%
Ctrip.Com International Ltd. Ads (CTRP) $36.85 -1.89%
Cerner Corp. (CERN) $63.22 -1.57%
JD.com, Inc. (JD) $26.53 -1.56%
Electronic Arts Inc. (EA) $113.21 -1.48%
Celgene Corp. (CELG) $89.15 -1.45%
Booking Holdings Inc. (BKNG) $1,875.76 -1.37%
Apple Inc. (AAPL) $218.33 -1.34%
Dish Network Corp. (DISH) $34.87 -1.19%