Stocks go nowhere as US-China trade war drags energy lower

Philippe Wojazer/Reuters

Stocks were mixed Wednesday despite a recent wave of upbeat
corporate earnings as a new round of tariffs between the US and
China dragged energy companies lower. The dollar and
Treasury yields fell. 

Here’s the scoreboard:

Dow Jones industrial
average: 25,583.55 −45.36
(-0.18%)

S&P
500: 2,861.20 +2.75
(+0.096%)

Nasdaq
Composite : 7,888.33 +4.66 (+0.06%)

1. Another $16 billion worth of US exports to China —
   including oil products and cars — will be subject to a 25%
   tax. After the Trump administration followed
   through with a 25% tariff on an additional $16 billion of
   
   Chinese goods, Beijing retaliated in
   kind. The latest tariffs, which bring the running
   total of targeted goods to $50 billion for both China and the
   US, are set to take effect August 23.
2. 
   Washington rolled out punitive sanctions against Moscow for
   the poisoning of ex-spy Sergei Skripal and his daughter in
   March. The measures came
   amid pressure from Congress and months after the UK issued
   sanctions penalizing the Kremlin for the poisoning, which took
   place on British soil.
3. 
   Saudi Arabia’s central bank ordered its fund managers to
   dump Canadian bonds, stocks and cash. The move
   came after Canada’s foreign ministry criticized Saudi Arabia
   for its arrests of prominent human-rights activists and called
   for their release. Saudi Arabia’s state airline is also set to
   
   suspend flights to and from Toronto Pearson International
   beginning next week. 
4. Earnings season rolls on.21st
   Century Fox and Roku report
   after the bell — follow Business Insider here for live
   updates. 

And a look at the upcoming economic calendar: