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.


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 TrumpCaitlyn Jenner says election was not 'stolen,' calls Biden 'our president' Overnight Health Care: FDA authorizes Pfizer vaccine for adolescents | Biden administration reverses limits on LGBTQ health protections Overnight Defense: US fires 30 warning shots at Iranian boats | Kabul attack heightens fears of Afghan women's fates | Democratic Party leaders push Biden on rejoining Iran deal MORE to go big and a promise from Speaker Nancy PelosiNancy PelosiThe Hill's 12:30 Report - Presented by Facebook - Biden reverses Trump limits on transgender protections The Hill's Morning Report - Presented by Facebook - Infrastructure, Cheney ouster on deck as Congress returns This week: Congressional leaders to meet with Biden amid GOP reckoning MORE (D-Calif.) to keep the House in session until a deal comes together.