United States benchmark averages slipped on Friday (Saturday AEST) as investors waited for high-level trade talks between the U.S. and China over the weekend.
The Dow Jones Industrial Average fell 119.1 points, or 0.3%, to close at 41,249.4. The S&P 500 edged down 0.1% to 5,659.9, while the Nasdaq Composite ended flat at 17,928.9.
All three major benchmarks posted weekly losses. The S&P 500 declined 0.5%, the Nasdaq dropped 0.3%, and the Dow slipped 0.2%.
Over the weekend, the White House announced it had made "substantial progress" with China following extended negotiations, although no details were immediately provided. A full briefing is expected Monday morning (Tuesday AEST).
The announcement came shortly after the U.S. and the United Kingdom reached a preliminary trade agreement, which investors hope will pave the way for further deals.
However, the inclusion of a 10% baseline tariff on the U.K. raises questions about future global trade dynamics.
On the bond markets, Treasury yields moved slightly higher. The 10-year yield rose to 4.382%, while the 2-year yield climbed to 3.889%.
