Dow Jones Industrial Average falls 17 points
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.
U.S. to eliminate special treatment for Hong Kong
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.
Chipmakers jump
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.
What happens next?
Manufacturing and construction spending data are set for release Monday.
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