Wall Street mixed ahead of holiday weekend

Credit: Reuters Studio
Published on August 30, 2019 - Duration: 01:07s

Wall Street mixed ahead of holiday weekend

Wall Street showed mixed results Friday as investors were cautious ahead of a holiday weekend.

Fred Katayama reports.


Wall Street mixed ahead of holiday weekend

Wall Street finished flat on the last trading day of a volatile month.

Strong consumer spending data in July initially drove the markets higher, but investors later chose to take profit friday ahead of a long Labor Day weekend.

The S&P inched up 1 tenth of a percent on the day; for the month, it lost 1.8%.

Helios Quantitative chief investment officer, Joe Mallen: SOUNDBITE: HELIOS QUANTITATIVE CHIEF INVESTMENT OFFICER, JOE MALLEN (ENGLISH) SAYING: "There are these looming unknowns over the weekend whether we're going to add additional tariffs to China, we've got a massive storm coming in, people are just a little bit jittery but no one really wants to make a trade in either direction." Ulta Beauty had an ugly day.

The high-flying shares lost more than a quarter of their value after the cosmetics and skin care retailer warned sales would slow and cut its profit forecast for the full year.

The biggest gainer on the S&P 500 was Campbell Soup.

The food maker sold more soups and snacks and cut costs during the quarter.

Its earnings and margins beat Wall Street's forecasts.

Shares of

Class="kln">Tesla rose for a third straight day.

China said it will exempt 16 Tesla electric vehicles from its 10% purchase tax.

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