Investing.com – U.S. stocks closed lower on Friday, after increased geopolitical concerns amid US air strikes against Syria and weaker than expected nonfarm payrolls data weighed on sentiment.
U.S. stocks started the session on the back foot, as investors fled risk assets, after the United States launched cruise missiles against Syria, while investors mulled over a disappointing Nonfarm payrolls figure for March.
The Bureau of Labor Statistics reported Friday, Nonfarm payrolls grew by just 98,000 in March, well below expectations of 180,000, but the unemployment rate fell to a 10-year low of 4.5%.
U.S. equities reacted positively, albeit briefly, to comments from New York Fed President William Dudley, after he said Friday, the U.S should consider small adjustments to the Dodd-Frank law that toughened rules and oversight for financial institutions.
“It is entirely appropriate to take a critical look at the changes that were made to the regulatory regime," Dudley told the Princeton Club of New York on Friday.
Meanwhile, the final day of a two-day summit between U.S. President Donald Trump and Chinese President Xi Jinping remained front and center, as a number of sensitive topics are expected to be discussed including North Korea and trade.
Elsewhere, energy stocks received a boost, as oil prices settled higher for a fourth straight session.
On the New York Mercantile Exchange crude futures for May delivery gained 54 cents to trade at $52.24. Oil prices settled in positive for the second straight week.
The Dow Jones Industrial Average closed 0.03% lower at 20,656. The S&P 500 lost 0.08% and the Nasdaq Composite closed 0.02% lower at 5877.81.
The S&P 500 gainers and losers for the session
The top S&P 500 gainers Vulcan Materials Company (NYSE:VMC) up 3.9%, and Incyte Corporation (NASDAQ:INCY) up 6.4%, while FMC Corporation (NYSE:FMC) added 5.5%.
Under Armour Inc C (NYSE:UA) down 3.2%, CarMax Inc (NYSE:KMX) down 2.6% and Cabot Oil & Gas Corporation (NYSE:COG) down 2.3%, were among the worst S&P 500 performers of the session.