Stock Market Today: Tariff anxieties weigh on market

11:18 a.m. ET 

Stocks were mixed on Friday after a report on consumer  confidence suggest Americans are increasingly worried about the state of the economy now and in the future. 

The Standard & Poor's 500 Index was off slightly at 5,438, but the Dow Jones Industrial Average was off 223 points to 39,866.,

But the Nasdaq Composite Index was up 0.3% to 17,227. 

The 10-year Treasury yield, a key determinant of mortgage rates, was at 4.285%, down from 4.325% on Thursday.

Crude oil was off 42 cents to $62.37 a barrel as worries build that a potential thaw in U.S,-trade relations weighed on markets.

Boosting the Nasdaq were consumer discretionary stocks such as Tesla  (TSLA) , up 7.2% to $278.02. Communications stocks such as Google-parent Alphabet  (GOOGL)  and Facebook-parent Meta Platforms  (META)  were boosting the giant tech universe of stocks.

 Alphabet shares were up 2.3% to $162.92 at 11 a.m. If the gain holds, Alphabet's loss for the year — 15.9% as of Thursday's close — would drop to 13.9%. 

Just three of 11 S&P 500 sectors were higher: communications stocks like Alphabet and Meta, consumer discretionary (think Tesla) and information technology. 

The 10-year Treasury yield, a key determinant of mortgage rates, was at 4.279%, down from 4.325% on Thursday.

Crude oil was off 32 cents to $62.49 a barrel as worries build that a potential thaw in U.S,-trade relations weighed on markets.

Survey: Consumers are worried

Dragging on markets was the final look at consumer attitudes in April by the University of Michigan. The Survey of Consumers report showed consumer sentiment fell for a fourth straight month, 

The decline in current conditions was modest, but expectations have fallen 32% since January. The three-month decline is the steepest since the 1990 recession, wrote Joanne Hsu, director of the survey. 

The deterioration was strongest among middle-income families, but Hsu noted, "expectations worsened for vast swaths of the population, across age, education, income and political affiliation."

While alarming, the question is if the worries will translate into actual trimming of spending in a broad way. The New York Times reported Thursday afternoon that consumers already are changing their habit. They're spending less on snacks, forcing beverage-and-snack giant PepsiCo  (PEP)  to cut its profit guidance for the year. 

Indexes look at a cool open

9:10 a.m. ET

Stocks look to open lower on Friday as traders continue to worry about trade disputes and earnings.

A lower open does not necessarily mean stocks will end the day lower. Early unease on Thursday was followed by a big rally in the afternoon.