The Dow Jones Industrial Average fell 17.53 points, or 0.07%, to 25,383.11. The S&P 500 climbed 0.48% to 3,044.31. The Nasdaq Composite advanced 1.29% to 9,489.87. Stocks closed well off their session lows after President Donald Trump's much-awaited news conference on China.
During the news conference, Trump said he would take action to eliminate special treatment towards Hong Kong. However, he did not indicate the U.S. would pull out of the phase one trade agreement reached with China earlier this year, easing trader concerns for the time being.
Shares of semiconductor companies rose broadly following Trump's news conference. The iShares PHLX Semiconductor ETF (SOXX) closed 2.56% higher. Micron, Nvidia and Qorvo climbed 3.10%, 4.58% and 3.94%, respectively.
Manufacturing and construction spending data are set for release Monday.
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