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Stocks open flat following Tik-Tok, WeChat ban announcement

Stocks open flat following Tik-Tok, WeChat ban announcement
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Stock markets on Friday opened flat following a Trump administration announcement that it would ban Chinese-owned apps WeChat and TikTok from U.S. app stores, a move that could escalate tensions with China.

The Dow Jones Industrial Average opened down 25 points, or 0.1 percent, and the S&P 500 was up 1.5 points, a rounding error in percentage terms.

Markets have fluctuated dramatically in recent weeks, retreating from new record highs only to waver in their bounce back.

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If stocks do not lose steam Friday, markets will see their first week of positive gains in September.

Traders are keeping their eyes on stalled Washington negotiations over a fifth COVID-19 relief package, which could unleash upward of $1 trillion in additional fiscal relief.

But Democrats and Republicans remain far apart in their positions, despite urging from President TrumpDonald John TrumpPolice say man dangling off Trump Tower Chicago demanding to speak with Trump Fauci says he was 'absolutely not' surprised Trump got coronavirus after Rose Garden event Biden: Trump 'continues to lie to us' about coronavirus MORE to go big and a promise from Speaker Nancy PelosiNancy PelosiPush to expand Supreme Court faces Democratic buzzsaw Schumer labels McConnell's scheduled coronavirus stimulus vote as 'a stunt' Pelosi: White House made 'unacceptable changes' to testing language during negotiations on coronavirus stimulus MORE (D-Calif.) to keep the House in session until a deal comes together.