US stocks mixed as investors digest trade-war fears

Major US equity indices seesawed between tepid gains/minor losses during the opening hour of trade on Friday amid the prospect of a global trade war.

Stocks attempted to bounce back after yesterday's brutal sell-off, in what was seen as a delayed reaction to the Trump administration's announcement to impose tariffs on Chinese imports and subsequent tariff retaliation from China. 

This, against the backdrop of recent duties on steel and aluminum imports, fueled concerns over US-China tit-for-tat measures and forced investors to assess the global implication of a potential trade war between the world's two largest economies.

On the economic data front, durable goods orders jumped 3.1% in February, posting the largest gains since last summer and supported the initial leg of up-move on the last trading day of the week. 

Investors now look forward to a trio of Fed speakers - Minneapolis Fed President Neel Kashkari, Dallas Fed President Rob Kaplan and Boston Fed President Eric Rosengren, which might influence Fed rate hike expectations and drive sentiment surrounding riskier assets - like equities.

Meanwhile, the ongoing underperformance by technology stocks, led by the recent weakness in shares of social media giant – Facebook, over data privacy issue, might further contribute towards keeping a lid on any meaningful recovery for the markets.