U.S. stocks traded mixed amid global trade prospects, data

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NEW YORK, May 17 (Xinhua) -- U.S. stocks traded mixed on Friday as investors weigh major economic data against global trade prospects.

At midday, the Dow Jones Industrial Average added 28.56 points, or 0.11 percent, to 25,891.24. The S&P 500 was down 2.37 points, or 0.08 percent, to 2,873.95. The Nasdaq Composite Index decreased 26.75 points, or 0.34 percent, to 7,871.30.

The University of Michigan's consumer sentiment index in May climbed to a reading of 102.4, a 15-year high, from April's reading of 97.2. This is higher than economists' estimates.

"Consumers viewed prospects for the overall economy much more favorably, with the economic outlook for the near and longer term reaching their highest levels since 2004," according to the report.

However, the gains were mostly recorded before China-U.S. trade talks showed more uncertainties.

The United States suddenly announced a decision on May 10 to increase additional tariffs on 200 billion U.S. dollars worth of Chinese imports from 10 percent to 25 percent.

The unexpected move prompted China to adopt similar policies by raising the rate of additional tariffs imposed on some of the imported U.S. products from June 1.

The change of tone has rattled global markets, led to volatile trading in U.S. equities market, and incurred higher risks to the global economy already fraught with uncertainties. Enditem

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