Stocks erase a loss as worries over China tensions fizzle

Friday, May 29, 2020, Vol. 44, No. 22
The Associated Press

The stock market erased an early drop and ended mixed, capping a strong week and month.

Major U.S. indexes had started the day lower Friday as traders worried that President Donald Trump would reignite a trade war with China, but in a late-afternoon announcement from the White House he instead said the U.S. would cut ties with the World Health Organization, saying it had failed to adequately respond to the coronavirus because China has "total control" over the global organization.

The S&P 500 rose 0.5% and closed out its second straight monthly gain. Bond yields fell.