Arizona Tribune - Stocks mixed as global markets eye US-China tariff talks

"If ever there was a wait and see Friday, this is it," said Art Hogan of B. Riley Wealth Management. "It's all about our perceptions of how the trade war is going."

Representatives from the two countries are scheduled to meet in Switzerland this weekend. Analysts do not expect a breakthrough but are hoping for deescalation in the trade war.

US President Donald Trump said an 80 percent tariff on China "seems right" in a post on social media. That would be a shift from the three-digit levies the two countries have imposed on each other in recent weeks.

After opening higher following Trump's remarks, US stocks moved in a choppy fashion, with the S&P 500 finishing narrowly lower.

Trump's comments came a day after the United States and Britain announced the first agreement since the US President launched his tariffs blitz last month.

"Coming hot on the heels of yesterday's UK-US trade deal, there is an air of optimism that we could see additional deals come to fruition around the globe," said Joshua Mahony, chief market analyst at Scope Markets.

Frankfurt's DAX rose 0.6 percent, hitting a fresh high of 23,543.27 points, recouping losses spurred by Trump's April tariffs announcements.

Paris and London also climbed following a mixed showing in Asia.

Tokyo and Hong Kong closed higher but Shanghai dropped as data showed China's exports to the United States plunged by around one fifth on-year in April as Trump's tariffs kicked in.

Oil prices jumped on hopes that easing tensions between the United States and China would alleviate fears of a slump in crude demand.

The dollar dropped after rallying on news of the US-UK trade deal.

Among individual companies, Lyft shot up more than 28 percent as it announced a new $750 million share repurchase program after reporting mixed earnings.

- Key figures at around 2030 GMT -

New York - Dow: DOWN 0.3 percent at 41,249.38 (close)

New York - S&P 500: DOWN 0.1 percent at 5,659.91 (close)

New York - Nasdaq Composite: FLAT at 17,928.92 (close)

Frankfurt - DAX: UP 0.6 percent at 23,499.32 (close)

London - FTSE 100: UP 0.3 percent at 8,554.80 (close)

Paris - CAC 40: UP 0.6 percent at 7,743.75 (close)

Tokyo - Nikkei 225: UP 1.6 percent at 37,503.33 (close)

Hong Kong - Hang Seng Index: UP 0.4 percent at 22,867.74 (close)

Shanghai - Composite: DOWN 0.3 percent at 3,342.00 (close)

Euro/dollar: UP at $1.1257 from $1.1228 on Thursday

Pound/dollar: UP at $1.3308 from $1.3246

Dollar/yen: DOWN at 145.31 yen from 145.91 yen

Euro/pound: DOWN at 84.57 from 84.75 pence

Brent North Sea Crude: UP 1.7 percent at $63.91 per barrel

West Texas Intermediate: UP 1.9 percent at $61.02 per barrel

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L.Adams--AT