US stocks closed mixed amid data, earnings

Traders work on the floor of the NYSE in New York

The S&P 500 was up 0.59 points, or 0.02 percent, at 2,858.29.

"When we see the earnings growth in 2018, the multiples are reasonable at that record level", said Art Hogan, chief market strategist at B. Riley FBR in NY. Occidental Petroleum (OXY.N) fell 4.2 percent after it maintained a tepid production forecast for the year. You worry about the effects on Europe.

Bookings Holdings fell 5.9 percent and weighed the most on the S&P and the Nasdaq after it forecast third-quarter profit below expectations.

The Nasdaq inched toward a record on the back of high-flying technology trio of Apple, Amazon and Microsoft, while gains in the Dow and the S&P 500 were limited as energy shares fell.

Meanwhile, concerns over escalating trade conflict between the USA and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day. Shares of Apple rose 0.8 per cent, while those of Amazon were up 0.6 per cent.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1.4 percent.

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Leicester have finally cashed in on Riyad Mahrez but they've shown characteristic resolve to rebuff United's interest in Harry Maguire .

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The US and China have been trying to restart high-level talks that broke off after Trump followed through on his tariff threats. The tariffs will come into effect simultaneously with the U.S. ones, at 12.01 pm in Beijing, according to the statements.

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The Saudi Kingdom was less than thrilled about Canada's "interference", saying it had no business to meddle in its local affairs. Bahrain said it supports the measures by Saudi Arabia in response to statements made by Canada's foreign affairs minister.

"Any time that there's any movement in currencies, financials tend to reap the contagion risks", said Jamie Cox, managing partner for Harris Financial Group in Richmond, Virginia.

Tesla had closed up 11 percent on Tuesday after Chief Executive Elon Musk said he was considering taking the company private.

Data on Friday showed US consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures.

The S&P index recorded 13 new 52-week highs and two new lows, while the Nasdaq recorded 42 new highs and 27 new lows.

Advancing issues outnumbered decliners by a 1.68-to-1 ratio on the NYSE and by a 1.58-to-1 ratio on the Nasdaq. Meanwhile, newly announced US sanctions against Russian Federation added to the turmoil. That compares with the 6.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

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