U.S. stocks opened modestly lower on Friday as investors weighed a jobs report that was largely in line with expectations against the escalation of trade tensions this week, following President Donald Trump's pledge to impose additional import levies on Chinese goods.
The S&P 500 was down 0.6% to 2,938. The Dow Jones Industrial Average retreated 110 points , or 0.4%, to 26,473. The Nasdaq Composite slipped 0.8% to 8,048.
The U.S. economy gained 164,000 jobs in July, slightly below the 171,000 forecast by MarketWatch-polled analysts. Average hourly earnings grew 0.3%, above the 0.2% expected.
Though, the latest employment report showed the U.S. economy continued to add jobs at a healthy pace, Trump's tariff vow has weighed on investor sentiment since Thursday.
In company news, shares of Exxon Mobil Inc. and Chevron Corp. were up after both reported second-quarter earnings that beat expectations.
Source : Market Watch