Stocks were largely flat on Friday after President Trump said he may cut China's 145% tariff to 80% ahead of trade negotiations in Switzerland this weekend.
The S&P 500 slipped under 0.1%, the Nasdaq 100 ended flat, and the Russell 2000 fell 0.16%. Risk-on sectors like energy, real estate, and consumer discretionary outperformed, while healthcare, consumer staples, and communication services led the declines.
Affirm shares fell double digits after the buy now, pay later giant swung a surprise Q3 profit, but gave cooler-than-expended revenue guidance for the current quarter.
Retail favorite Rocket Lab dove 11% after the commercial space company posted a larger-than-expected Q1 loss and offered disappointing guidance for the current quarter..
Expedia shares sank 7%, one of the worst performers in the S&P 500, after the travel giant missed Q1 estimates amid softer travel demand in the US.
TKO Group shares slid 4% a day after the WWE and UFC parent raised its full-year guidance and beat on Q1 revenue, but missed on profit expectations.
Lyft soared 28% after the ride-hailing giant topped Q1 estimates, netting a record number of bookings and boosting its share buyback plan to $750 million.
Pinterest jumped nearly 5% after the company topped Q1 revenue forecasts, posted upbeat guidance, and saw record active users on its new "visual discovery platform."
