By Joe Wallace and Matt Wirz

Stocks were mixed Friday afternoon in a choppy day of trading, denting hopes for a fourth consecutive day of gains.

Consumer-sentiment data registered one of its lowest levels on record, though the measure came in slightly higher than a preliminary reading earlier in the month. The Dow Jones Industrial Average, slipped about 0.4%. The Nasdaq Composite rose less than 1%.

Markets had started the week under pressure, with investors in "Sell America" mode. That quickly morphed into a rebound, fueled by hopes for a de-escalation in President Trump's tariff battle with China, plus his retreat from threats to oust Federal Reserve Chair Jerome Powell. Friday, the president said the U.S. is "very close" to a tariff deal with Japan.

But analysts aren't sounding the all-clear for markets, cautioning that Trump's tariff policies may have done long-lasting damage to the U.S.'s credibility with overseas investors.

Rising expectations of an economic slowdown in the U.S. this year continued to drag Treasury yields lower. The 10-year is flirting with a yield of 4.25%, down about 0.25 percentage point over the past two weeks.

The trade war is far from over, with Beijing saying it isn't in negotiations with Washington. Top policymakers in China plan more growth-supporting measures, including easier monetary policy, to shore up the country's economy.

Meanwhile, Alphabet's stock rose, helping push the tech-heavy Nasdaq higher. The Google parent late Thursday posted strong earnings, though it warned of a "slight headwind" from the end of the "de minimis" trade loophole.

Elsewhere in tech, Intel fell about 7% after reporting a quarterly loss. The chip maker warned that trade turmoil would push up its costs, and could chill investment and spending.

Next week, fellow "Magnificent Seven" companies including Amazon, Apple and Meta Platforms are due to report.

In recent trading:

--Ten-year Treasury yields slipped below 4.3%.

--The WSJ Dollar Index rose, while the Japanese yen weakened.

--Gold futures pulled back toward $3,300 a troy ounce. Financial and political uncertainty sent the precious metal to record highs earlier this week.

--Overseas stocks mostly gained. Defense shares led gains in Europe, while indexes rose in Japan, Hong Kong and Taiwan.

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(END) Dow Jones Newswires

April 25, 2025 14:39 ET (18:39 GMT)

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