Dow Dips as Trump Targets More China Tariffs

The Dow Jones Industrial Average (DJI) fell today, giving back its weekly gains, after President Donald Trump said he could place tariffs on another $267 billion worth of Chinese goods "if I want," and confirmed reports that the U.S. will be starting trade talks with Japan. Both the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) struggled to gain momentum, as well, even as the tech sector rebounded. Investors also reacted to the August nonfarm payrolls report, and a dramatic sell-off in Tesla (TSLA) shares.

Continue reading for more on today's market, including:

• Analyst: This biotech can soar 154%.
• Bank giant gets downgraded on valuation concerns.
• Plus, GoDaddy could go higher; buy the dip on this drug stock; and the steel stock that earned a fresh "buy" rating.

The Dow Jones Industrial Average (DJI - 25,916.54) dipped lower in afternoon trading, finishing down 79.3 points, or 0.3%. Only 10 of the 30 Dow components closed higher, the best performing being Exxon Mobil (XOM), up 1.7%. Intel (INTC) paced the losers, giving back 1.7%. The Dow lost 0.2% on the week.

The S&P 500 Index (SPX - 2,871.68) fell 6.4 points, or 0.2%, and the Nasdaq Composite (IXIC - 7,902.54) ended down 20.2 points, or 0.3%. The SPX shed 1% this week, and the Nasdaq gave back 2.5%.

The Cboe Volatility Index (VIX - 14.88) closed higher for a fourth straight session, adding 0.2 point, or 1.6%, and ending the week up 15.7%.

5 Items on our Radar Today

1. As Tesla (TSLA) shares fell due to another executive departure and a viral video of CEO Elon Musk smoking pot, short sellers made a killing. With today's decline, TSLA short sellers took in more than $500 million. (CNBC)
2. President Trump today said the U.S. is starting trade talks with Japan. There had already been reports that Trump could target Tokyo, which strengthened the yen against the dollar. (Reuters)
3. GoDaddy stock could be set for another rally.
4. Data says buy the dip on this drug stock.
5. The steel stock that earned a "buy" rating. 

Data courtesy of Trade-Alert

Oil and Gold End Week Lower

Trade uncertainty and demand worries had oil moving lower again. October crude futures slipped 2 cents to end at $67.75 per barrel, putting their weekly deficit at 2.9%.

The stronger dollar put pressure on gold today, with December-dated gold futures losing $3.90, or 0.3%, to settle at $1,200.40 an ounce. Gold closed the week down 0.5%.