US STOCKS-Indexes trade near flat, pause as trade deal doubts resurface

Reuters

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    * Trump says he has not agreed to roll back tariffs
    * Disney rises after streaming expenses come in below
projection
    * Gap falls after surprise CEO exit
    * Indexes: Dow falls 0.1%, S&P 500 up 0.08%, Nasdaq up 0.3%

 (Updates to late afternoon)
    By Caroline Valetkevitch
    NEW YORK, Nov 8 (Reuters) - U.S. stocks were near unchanged
on Friday after President Donald Trump said he has not agreed to
a rollback of U.S. tariffs sought by China, fueling doubts about
the progress of trade talks between the two countries.
    Trump, in remarks to reporters at the White House, poured
cold water on the idea of rolling back the tariffs, something
that he said Beijing would like him to do. On Thursday,
officials from both countries said that the United States and
China had agreed to such a deal.  urn:newsml:reuters.com:*:nL2N27O0Q7 
    "Markets are getting tired" of the back-and-forth on the
trade front, said Paul Nolte, portfolio manager at Kingsview
Investment Management in Chicago. "It's gone from the deal is
close, to no, it's not, and we've been through this before."
    Helping to boost the S&P 500, Walt Disney Co  DIS.N  gained
3.6% a day after it reported quarterly results that showed it
spent less than it had projected on its online streaming
service, Disney+. Disney's popular theme parks and a remake of
"The Lion King" lifted earnings.  urn:newsml:reuters.com:*:nL3N27N57T
    The Dow Jones Industrial Average  .DJI  fell 27.19 points,
or 0.1%, to 27,647.61, the S&P 500  .SPX  gained 2.53 points, or
0.08%, to 3,087.71, and the Nasdaq Composite  .IXIC  added 27.06
points, or 0.32%, to 8,461.57.
    Of the 446 S&P 500 companies that have reported results so
far, roughly three-quarters have beaten profit estimates,
according to IBES data from Refinitiv. The numbers, to some
extent, reflect significantly lowered analysts' forecasts.
    Also on Friday, shares of Gap Inc  GPS.N  fell 7% after the
apparel retailer said Chief Executive Officer Art Peck would
leave the company, a surprise exit in the middle of a
restructuring. Gap also slashed its full-year earnings forecast.
 urn:newsml:reuters.com:*:nL3N27N5HY
    Declining issues outnumbered advancing ones on the NYSE by a
1.04-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.
    The S&P 500 posted 23 new 52-week highs and two new lows;
the Nasdaq Composite recorded 68 new highs and 80 new lows.  

 (Reporting by Caroline Valetkevitch in New York
Additional reporting by Arjun Panchadar and Agamoni Ghosh in
Bengaluru; Editing by Leslie Adler)
 ((caroline.valetkevitch@thomsonreuters.com; +1 646 223 6393;
Reuters Messaging:
caroline.valetkevitch.thomsonreuters.com@reuters.net))

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