August 31, 2018 / 2:29 PM / 19 days ago

US STOCKS-Wall St sluggish on trade concerns; Apple, Amazon lift Nasdaq

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* Trump threatens new tariffs on Chinese goods next week - report

* Canada, U.S. may not reach NAFTA deal within deadline - report

* Apple, Amazon boost Nasdaq

* Energy, financial stocks weigh on the S&P 500

* Indexes: Dow up 0.09 pct, S&P up 0.11 pct; Nasdaq up 0.33 pct (Updates to open)

By Shreyashi Sanyal

Aug 31 (Reuters) - The S&P 500 and the Dow Jones Industrial Average were largely flat on Friday hit by concerns about ongoing trade talks between the United States and other major economies, but gains in Apple and Amazon lifted the Nasdaq.

Wall Street’s rally came to a halt on Thursday after a report that U.S. President Donald Trump was ready to impose tariffs on $200 billion more of Chinese goods next week.

A separate report on Friday about Canadian government officials expressing concerns that a final North American Free Trade Agreement (NAFTA) pact will not be reached within the Friday deadline, added to the trade worries.

“The threat of global growth taking a hit from a damaging U.S-China relationship remains ‘front and center’,” said Dean Popplewell, vice president of market analysis at Oanda.

Automakers took a hit with Ford down 0.5 percent, GM off 0.4 percent and Fiat-Chrysler falling 1.1 percent.

At 10:11 a.m. ET the Dow Jones Industrial Average was up 22.42 points, or 0.09 percent, at 26,009.34, the S&P 500 was up 3.05 points, or 0.11 percent, at 2,904.18 and the Nasdaq Composite was up 26.51 points, or 0.33 percent, at 8,114.87.

Apple rose 1.6 percent, extending its gains for the seventh day. Warren Buffett said Berkshire Hathaway had added to its stake in the iPhone maker and Apple announced a Sept. 12 event, at which it is expected to unveil new iPhone models

Amazon.com was up 0.8 percent, topping $2,000 for the second day in a row to renew its push to join Apple in the $1 trillion market cap club.

Seven of the 11 major S&P 500 sectors were lower, with the energy sector leading the decline with a 0.80 percent drop.

The S&P financial index fell 0.25 percent with JPMorgan down 0.8 percent, Goldman Sachs off 0.2 percent and Citigroup which dropped 0.7 percent.

Advancing issues outnumbered decliners for a 1.16-to-1 ratio on the NYSE and a 1.41-to-1 ratio on the Nasdaq.

The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 53 new highs and 20 new lows. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)

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