Wall Street Eases Ahead of U.S.-China Trade Talks, Bitcoin Holds – Akamai Technologies (NASDAQ:AKAM)

Wall Street traded slightly lower by midday Friday, as investors adopted a wait-and-see stance ahead of a potential trade breakthrough, with high-stakes negotiations between U.S. officials—led by Treasury Secretary Scott Bessent—and Chinese authorities set to unfold over the weekend.

President Donald Trump signaled that tariffs on Chinese goods could be slashed from the current 145% to 80%, though that figure remains significantly higher than pre-Liberation Day levels, prompting continued caution among market participants.

Equities gave back a portion of Thursday’s gains as sentiment turned more defensive, while gold rebounded 1% to $3,330 per ounce, partially offsetting losses from the previous session.

Oil prices extended their rally, climbing further above $60 a barrel amid an improved global demand outlook, putting crude on track for its strongest weekly performance since late 2024. Natural gas followed suit, with Henry Hub futures rising 4.4%.

In fixed income, Treasury yields held steady, with the 10-year yield hovering around 4.37%.

Meanwhile, Bitcoin BTC/USD took a breather after Thursday’s 6.4% surge, trading just above $102,500.

Friday’s Performance In Major US Indices, ETFs

Major IndicesPriceChg %S&P 5005,650.98-0.2%Nasdaq 10020,003.04-0.3%Russell 20002,017.97-0.4%Dow Jones41,179.33-0.5%

Updated by 1:10 p.m. ET

According to Benzinga Pro data:

The SPDR S&P 500 ETF Trust SPY inched 0.2% lower to $563.80.
The SPDR Dow Jones Industrial Average DIA eased 0.4% to $412.10.
The tech-heavy Invesco QQQ Trust Series QQQ eased 0.2% to $487.38.
The iShares Russell 2000 ETF IWM inched 0.3% lower to $200.54.
The Energy Select Sector SPDR Fund XLE outperformed, up 0.9%; the Consumer Staples Select Sector SPDR Fund XLP lagged, down 0.5%.