After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Read the fine print in your Apple Card contract — one clause means you give up your right to be heard in court.Technologyread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Jim Nussle, a former director of the Office of Management and Budget, told CNBC on Wednesday that a strong U.S. consumer is the only thing keeping the country from recession.Marketsread more
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)
* Tariff increase on $200 bln of Chinese goods takes effect
* Symantec plunges on profit warning, CEO departure
* Uber opens 6.7% below IPO price
* Indexes down: Dow 0.55%, S&P 0.61%, Nasdaq 0.93% (Updates prices to open)
May 10 (Reuters) - U.S. stocks were off session lows on Friday, but the benchmark S&P 500 remained on track for its worst weekly loss since December, as investors fretted over a potential long-drawn U.S.-China trade war.
Treasury Secretary Steven Mnuchin called the two-day talks that ended in Washington "constructive," lifting sentiment that was earlier weighed down by President Donald Trump saying he was in "no hurry" to sign a deal as higher tariffs on $200 billion in Chinese goods became effective.
"There is a lot of apprehension and uncertainty around U.S-China trade talks," said Jonathan Corpina, senior managing partner for Meridian Equity Partners in New York.
"Markets are happy to hear that there was progress made, but they want to hear the details, and we don't have that information coming out of either party."
Boeing Co, the single largest U.S. exporter to China, and Caterpillar Inc fell more than 1%.
The rising tensions between the world's two largest economies have renewed fears of a global economic slowdown and forced investors to seek low-risk assets such as government bonds that has pushed longer-dated yields lower.
If the trade war drags on and consumers spend less due to higher prices, the Federal Reserve might have to cut interest rates, Atlanta Fed chief Raphael Bostic said.
The interest-rate sensitive banking sector fell 0.37%.
Uber Technologies Inc shares were down 1.3%, after opening 6.7% below their initial public offering price in their long-awaited market debut.
At 12:50 p.m. ET, the Dow Jones Industrial Average was down 142.74 points, or 0.55%, at 25,685.62. The S&P 500 was down 17.55 points, or 0.61%, at 2,853.17 and the Nasdaq Composite was down 73.52 points, or 0.93%, at 7,837.07.
Technology stocks fell 0.96%, and weighed the most on the S&P, dragged down by shares of iPhone maker and a plunge in Symantec Corp.
The antivirus software maker tumbled 13.8% after issuing a profit warning and unexpectedly announcing that its chief executive officer would step down.
Chipmakers, which get a huge chunk of their revenue from China also fell, with the Philadelphia chip index trading down 1%, taking the week's declines to 7% and on pace for its worst weekly loss since January 2016.
Declining issues outnumbered advancers for a 1.39-to-1 ratio on the NYSE and for a 1.84-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and 12 new lows, while the Nasdaq recorded 31 new highs and 90 new lows. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Sriraj Kalluvila)