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Stocks held mostly lower on Friday afternoon after President Donald Trump gave brief remarks on the U.S.'s relationship to both the U.K. and Mexico. 

The S&P 500 fell 0.15%, the Dow Jones Industrial Average fell 0.1%, and the Nasdaq was up 0.03%.

In a short joint press conference with U.K. Prime Minister Theresa May, Trump sought to reaffirm the country's close relationship with the European nation. May also noted that the two leaders have a focus on working people in common and that the two would work to establish a U.K.-U.S. trade deal, a crucial step as the former's exit from the European Union gets underway. 

Separately, Trump made brief comments on his phone call with Mexican President Enrique Pena Nieto that occurred Friday morning. Trump spoke with Nieto for an hour in what has been described as a productive conversation. Nieto cancelled a planned visit to the White House as Trump's talk of a border wall grew more divisive. The Mexican peso rose 1.4% against the U.S. dollar. 

Chevron (CVX) - Get Free Report slumped 2% on Friday after fourth-quarter revenue came in well below consensus estimates. Sales climbed 7.7% to $31.5 billion, but fell short of consensus by $2.3 billion. Adjusted earnings were 68 cents a share, topping forecasts by 4 cents. 

Crude oil prices weighed on the energy sector after the number of active drilling rigs in the U.S. climbed by 18 to 712 in the past week. . Crude oil markets have teetered between promising signs of lower oil output among global producers and disappointing domestic data on building inventories. The Organization of Petroleum Exporting Countries put a production freeze agreement into action at the beginning of January.

West Texas Intermediate crude was down 1.1% to $53.17 a barrel on Friday.

The energy sector was the worst performer Friday. Major oilers including Exxon Mobil (XOM) - Get Free Report , Shell (RDS.A) , Total (TOT) - Get Free Report  and BP (BP) - Get Free Report were lower, while the Energy Select Sector SPDR ETF (XLE) - Get Free Report dropped 1.3%. 

The Dow closed Thursday with its third straight day of gains, a streak not seen since mid-December. The blue-chip index also ended the day with a record close for the second session in a row. The Dow has benefited from the prospects of increased infrastructure spending and looser business regulations from the Trump administration.

The U.S. economy slowed down in the fourth quarter of 2016, seeming to confirm the weakness retailers reported over the holiday season. The economy grew at a rate of 1.9% over the final three months of the year, a sharp decline from 3.5% growth in the third quarter. Over the full year, the U.S. grew 1.9%, compared to 2.6% growth in 2015. Annual growth hasn't exceeded 3% for the past 11 years. In 2011, U.S. growth was 1.6%.

Durable goods orders fell 0.4% in December., far weaker than consensus of 2.5% growth. Excluding defense orders, orders for long-lasting U.S. products fared far better, rising 1.7%. Core capital goods orders rose 0.8%.

Consumer sentiment remained strong, according to the final reading for January. The measure settled at 98.5 for the month, up from a previous estimate of 98.1. Economists had anticipated the measure to remain flat.

Alphabet (GOOGL) - Get Free Report slipped after falling short of profit estimates over its recent quarter. The parent company of Google earned an adjusted $9.36 a share, up from $8.67 a share a year earlier, but below estimates of $9.64 a share. Advertising revenue at Google increased 17%. A 41% annual increase in adjusted cost of revenue -- to $5.5 billion -- played a role in Alphabet missing earnings forecasts. Pixel manufacturing costs, YouTube content costs and greater depreciation expenses on past capital investments all contributed, as did $320 million in "one-time charges" related to "equipment and other adjustments."

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Intel (INTC) - Get Free Report rose 2% after topping analysts' estimates on its top- and bottom-lines. The tech company earned an adjusted 79 cents a share, 3 cents higher than the year-ago quarter and more than an estimate of 75 cents. Revenue of $16.4 billion exceeded consensus of $15.75 billion.

Microsoft (MSFT) - Get Free Report was also higher after beating analysts' earnings estimates on strength in its cloud-computing services. The tech company earned an adjusted 84 cents a share over the quarter, higher than estimates of 79 cents. Revenue at its Intelligent Cloud segment, which includes its Azure cloud business, increased 8% to $6.9 billion.

Starbucks (SBUX) - Get Free Report reported slower same-store sales growth over its first quarter than analysts had anticipated. Same-store sales increased 3%, weaker than 3.8% consensus, while growth in the U.S. clocked in at 3%, below forecasts of 4.2%. The coffee chain said it anticipated adjusted full-year earnings no higher than $2.14 a share, in-line with average consensus of $2.14. Shares fell 4%.

Starbucks is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX? Learn more now.

Honeywell International (HON) - Get Free Report declined after the industrial company met earnings estimates for the final three months of the year and held its 2017 guidance in place. The company reported a decline in organic revenue, while profit was pressured by rising expenses. Core organic sales declined by 1%, while expenses increased 2.7%.

Colgate-Palmolive (CL) - Get Free Report slid 7% after warning of "challenging" conditions in 2017. In its recent quarter, the company earned an adjusted 75 cents a share, in-line with estimates, while revenue of $3.7 billion came in slightly below consensus of $3.87 billion. CEO Ian Cook warned that "uncertainty in global markets and foreign exchange volatility remain challenging" in 2017, though pledged to deliver "solid organic sales growth."