S&P 500 rises slightly

(CNBC) Stocks recovered from earlier losses on Friday as traders breathed a sigh of relief after President Donald Trump’s much-awaited news conference on China.

The Dow Jones Industrial Average was up 50 points, or 0.2%, after being down more than 300 points earlier in the day. The S&P 500 traded 0.3% higher while the Nasdaq Composite was up 0.9%.

During the news conference, Trump said he would take action to eliminate special treatment towards Hong Kong. However, he did not indicate the U.S. would pull out of the phase one trade agreement reached with China earlier this year, easing trader concerns for the time being.

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