The Dow and S&P were able to shake off heightened fears of a new round of tariffs on $200 billion in Chinese goods to end Friday's session in the green.
The Dow Jones Industrial Average and S&P 500 closed trading up 0.03%, closing the day at 26,154 and 2,905 respectively. The Nasdaq was the lone index to decline, falling 0.05%, or 4 points to 8,010.
You Can Now Rent a Car From Porsche for Less Than $300 for 4 Hours
Porsche is launching its Porsche Drive program, allowing people to rent the high end vehicles for as little as $269 (minus taxes and fees) for four hours or up to $2,909 for a week with a Porsche 911.
"We want to offer a choice in how people experience the thrill of driving a Porsche," said Klaus Zellmer, President and CEO of Porsche Cars North America. "Our market research shows that consumers want options across a spectrum from access to ownership. The Porsche Drive and Porsche Host pilots are exciting, non-traditional ways to let customers choose how they get behind the wheel of a Porsche."
Trump Decision to Move Tariffs Forward Triggers Dow Selloff
President Donald Trump is telling aides to proceed with plans to place tariffs on $200 billion in Chinese goods, according to Bloomberg, and that is sending stocks tumbling Friday.
The Dow Jones Industrial Average, which spent most of Friday in the green, is tumbling 0.2%, or 50 points Friday afternoon, while the S&P 500 also declined 0.2%, or 6 points, and the Nasdaq drops 0.33%, or 27 points.
Trump has made closing the United States' trade deficit one of his biggest economic policy priorities even as he touts the economic surge that has occurred during his presidency.
U.S. Retail Sales Show Disappointing Growth in August
U.S. retail sales rose by 0.1% in August, the smallest increase recorded in six months, according to data from the Commerce Department.
Retail sales data for July was also revised higher to show sales increased 0.7%, up from the original estimate of a 0.5% increase.
Excluding automobiles, gasoline, building materials and food services, retail sales rose 0.1% in August after rising from an upwardly revised estimate of 0.8% the previous month.
The Volkswagen Beetle Will End Its Run in 2019
Volkswagen (VLKAY) will cease production of its iconic Beetle sedan in 2019 after offering two special editions for sale in July.
The vehicle, which came to the U.S. 11-years after it was created by the German company in 1938, became a symbol of the hippie culture of the 60's and experienced a revival in popularity in the late 90's.
While the company has no plans to revive the vehicle after next year, VW of America CEO Hinrich Woebcken told CBS that he "would say 'never say never.'"
Marty Chavez Is Out as CFO of Goldman Sachs
Marty Chavez is exiting his position as CFO of Goldman Sachs (GS) just 18 months after ascending to the job. Chavez will now become one of three co-heads of the firm's securities division starting in November, according to a memo sent to employees.
Chavez took heat from analysts who claimed that he didn't answer their questions appropriately during earnings calls.
Chavez took over Goldman Sachs' equities division in 2013, going on to become chief information officer. Chavez replaced Harvey Schwartz after Schwartz spent four years in the CFO role.
Shares of Goldman Sachs are up 0.64% in morning trading Friday.
Kroger Rises Premarket Following Post- Earnings Release Drop
Shares of grocer Kroger (KR) are rising about 1% Friday, making up some ground from Thursday's selloff following the company's earnings release.
Kroger reported revenue of $27.9 billion, just shy of analysts' expectations of $28 billion. Same store sales rose 1.6% in the quarter, also short of the 1.8% increase Wall Street expected.
Kroger's shares fell nearly 10% Thursday on the release.
The company earned $336 million in the quarter, or 41 cents per share on an adjusted basis, topping analysts' 38 cents per share expectation. Last year the company earned 39 cents a share.
U.S. futures are climbing across the board Friday as Hurricane Florence pummels the southeastern United States coast.
Dow futures are rising 0.18%, indicating an open 46 points higher, while S&P futures also gained 0.18%, indicating an open 5 points higher, while Nasdaq futures gained 0.37%, indicating an open 28 points higher.
Asian markets are mixed, with the Shanghai Composite falling 0.18% while the Hang Seng and Nikkei rose 1.01% and 1.2% respectively.
In Europe, the FTSE 100 rose 0.23%, while the DAX gained 0.19%, and the CAC 40 rose 0.25% with about four hours left in trading across the Atlantic.