Source: Sharecast
At the close, the Dow Jones Industrial Average was down 0.51% at 43,968.64, and the S&P 500 shed 0.08% to 6,340.00, while the Nasdaq Composite saw out the session 0.35% firmer at 21,242.70.
The Dow closed 224.48 points lower on Thursday, reversing gains recorded in the previous session.
Trump announced on Wednesday that the White House would impose a 100% tariff on imported chips, but said companies that were "building in the United States" would be exempted.
"We're going to be putting a very large tariff on chips and semiconductors," Trump said. "But the good news for companies like Apple is if you’re building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge."
Chip stocks helped the tech-heavy Nasdaq remain in positive territory, with Apple, Advanced Micro Devices, VanEck Semiconductor ETF, and Nvidia shares all closing higher, while trade bellwether Caterpillar weighed on the Dow Jones after warning that tariffs were set to seriously weigh on operations.
Trump also later announced that he has picked Stephen Miran, chair of the Council of Economic Advisors, to serve on the Federal Reserve Board of Governors, replacing Adriana Kugler following her resignation on Friday.
In terms of quarterly earnings, drugmaker Eli Lilly hiked FY profit guidance on Thursday as it revealed Q2 revenues had surged 38% to $15.56bn. However, shares headed south in pre-market after Eli Lilly released trial data that showed its weight-loss pill cut body weight by less than a rival treatment from Novo Nordisk.
On the macro front, Americans lined up for unemployment benefits at an accelerated pace in the week ended 2 August, according to the Labor Department. Initial jobless claims increased by 7,000 to 226,000 from the prior week's upwardly revised level, above market expectations of a softer increase to 221,000, while continuing claims soared by 38,000 to 1.974m, ahead of the 1.95m print expected by economists. Meanwhile, the four-week moving average, which aims to strip out week-to-week volatility, decreased by 500 to 220,750.
Elsewhere, wholesale inventories rose by 0.1% month-on-month to $906.3bn in June, according to the Census Bureau, down slightly from preliminary estimates of a 0.2% increase, but bouncing back from May's 0.3% decline.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Apple Inc. (AAPL) $220.03 4.93%
Cisco Systems Inc. (CSCO) $69.90 2.91%
Walgreens Boots Alliance, Inc. (WBA) $11.90 1.75%
Dow Chemical Co. (DOW) $21.61 1.46%
Verizon Communications Inc. (VZ) $42.95 1.42%
Coca-Cola Co. (KO) $70.46 1.32%
Merck & Co. Inc. (MRK) $80.37 1.17%
Boeing Co. (BA) $227.33 1.02%
3M Co. (MMM) $151.77 0.61%
Johnson & Johnson (JNJ) $171.53 0.55%
Dow Jones - Fallers
Amgen Inc. (AMGN) $284.70 -3.49%
Salesforce.Com Inc. (CRM) $240.88 -3.33%
Caterpillar Inc. (CAT) $417.48 -2.48%
Visa Inc. (V) $332.09 -2.25%
Walt Disney Co. (DIS) $112.88 -1.99%
Microsoft Corp. (MSFT) $520.84 -1.92%
Intel Corp. (INTC) $19.77 -1.69%
JP Morgan Chase & Co. (JPM) $286.85 -1.51%
Nike Inc. (NKE) $74.35 -1.50%
International Business Machines Corporation (CDI) (IBM) $250.16 -0.84%
S&P 500 - Risers
Hanesbrands Inc. (HBI) $4.65 11.51%
Becton, Dickinson & Company (BDX) $187.58 8.86%
Zimmer Biomet Holdings Inc (ZBH) $98.32 7.99%
Apple Inc. (AAPL) $220.03 4.93%
Advanced Micro Devices Inc. (AMD) $172.40 4.62%
Baxter International Inc. (BAX) $23.53 4.62%
Amazon.Com Inc. (AMZN) $223.13 4.11%
Albemarle Corp. (ALB) $70.06 4.10%
Parker-Hannifin Corp. (PH) $725.59 4.05%
International Paper Co. (IP) $48.06 3.69%
S&P 500 - Fallers
Fortinet Inc. (FTNT) $75.30 -22.37%
Eli Lilly and Company (LLY) $640.86 -14.14%
CF Industries Holdings Inc. (CF) $83.02 -7.80%
Ralph Lauren Corp (RL) $283.77 -6.48%
DENTSPLY Sirona Inc. (XRAY) $13.23 -6.27%
McKesson Corp. (MCK) $663.25 -5.76%
Gartner Inc. (IT) $229.69 -5.75%
Global Payments Inc. (GPN) $81.99 -4.12%
Diamondback Energy Inc. (FANG) $141.12 -4.03%
Assurant Inc. (AIZ) $201.69 -3.92%
Nasdaq 100 - Risers
Apple Inc. (AAPL) $220.03 4.93%
Tesla Inc (TSLA) $322.27 4.70%
Amazon.Com Inc. (AMZN) $223.13 4.11%
Asml Holdings N.V. (ASML) $713.12 3.65%
Costco Wholesale Corp. (COST) $977.45 3.65%
Micron Technology Inc. (MU) $111.87 3.63%
KLA-Tencor Corp. (KLAC) $912.06 3.63%
Qvc Group Inc Series A (QVCGA) $3.42 3.32%
Fastenal Co. (FAST) $47.48 3.26%
Broadcom Inc. (AVGO) $303.76 3.22%
Nasdaq 100 - Fallers
DENTSPLY Sirona Inc. (XRAY) $13.23 -6.27%
Mercadolibre Inc. (MELI) $2,334.82 -4.93%
Amgen Inc. (AMGN) $284.70 -3.49%
Biogen Inc (BIIB) $127.75 -3.47%
Biomarin Pharmaceutical Inc. (BMRN) $59.47 -3.25%
Comcast Corp. (CMCSA) $31.67 -3.05%
Illumina Inc. (ILMN) $95.50 -2.87%
Charter Communications Inc. (CHTR) $258.78 -2.71%
Seagate Technology Plc (STX) $148.10 -2.57%
Sirius XM Holdings Inc (SIRI) $21.31 -2.16%