Stocks on Wall Street surrendered early gains and closed broadly lower Friday after the White House said President Donald Trump would impose promised tariffs on key U.S. trading partners. The S&P 500 fell 0.

Solid results from Apple are buoying spirits, as investors brace for PCE inflation and weigh Trump's renewed tariff threat.

Stock closed lower on Friday, with the Dow losing ground in afternoon trading after the White House said President Trump will implement on Saturday tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods with immediate effect.

Wall Street is pointing slightly lower in early trading but is on track to close the week with solid gains on healthy quarterly earnings reports from large U.S. corporations.

Existing home sales climbed 2.2% in December to a seasonally adjusted annual rate of 4.24 million, according to the National Association of Realtors, the strongest pace since February 2024. Economists polled by Bloomberg expected existing home sales to hit a pace of 4.2 million in December.

Wall Street’s early gains faded on Friday after the White House confirmed that President Donald Trump’s new tariffs on major US trading partners would take effect on Saturday. The S&P 500 slipped 0.6%,