(Adds closing prices, weekly content and further analyst

commentary)

*

Indexes on Friday: Dow down 0.32%, S&P 500 and Nasdaq flat

*

For the week: Dow down 0.07%, S&P 500 up 0.6%, Nasdaq up

1.5%

*

Netflix ( NFLX ) raises 2025 revenue guidance but shares fall

*

Crypto stocks up as House passes stablecoin legislation

*

Exxon drops after losing Hess legal battle

By David French

July 18 (Reuters) - The S&P 500 and Nasdaq Composite

ended little changed on Friday, overcoming a brief dip triggered

by a Financial Times report indicating U.S. President Donald

Trump was pushing for steep new tariffs on European Union

products.

The FT report, which said the Trump administration was

eyeing a minimum tariff of between 15% and 20% in any deal with

the European bloc, sent markets lower before they partly

recovered.

The S&P 500 lost 0.57 points, or 0.01%, to 6,296.79,

and the Nasdaq Composite gained 10.01 points, or 0.05%,

to 20,895.66. The Dow Jones Industrial Average fell

142.30 points, or 0.32%, to 44,342.19.

Both the S&P 500 and Nasdaq have been pushed to repeated

record highs in recent weeks, as investors showed increased

ambivalence to Trump's tariff threats, and confidence these

policies may not damage the U.S. economy as severely as once

feared.

Still, this week was seen as a proving ground for how

Trump's economic policies are filtering into the wider economy.

"People are a little tired of trying to trade tariff

headlines or deadlines, and people are more concerned with

seeing the proof of this come to fruition through numbers," said

Greg Boutle, head of U.S. equity and derivative strategy at BNP

Paribas.

A raft of economic data offered mixed signals, including

robust retail sales, a rise in consumer inflation, and flat

producer prices for June.

The University of Michigan's Consumer Sentiment Index increased

this month, although consumers were still worried about future

price pressures.

Earnings season kicked off this week, giving an opportunity

to U.S. corporations to showcase how tariffs were, or were not,

affecting their businesses.

Industrial giant 3M ( MMM ) fell 3.7% after the company said the

impact of tariffs will mostly be felt in the second half of the

year.

Of the 59 S&P 500 companies to first report second-quarter

earnings this season, 81.4% have topped Wall Street's earnings

expectations, according to LSEG I/B/E/S data.

Charles Schwab ( SCHW ) was among the latest on Friday,

advancing 2.9% after posting higher profits. Regions Financial ( RF )

jumped 6.1% after raising its forecasts for 2025 interest

income.

The week has shown, though, that beating estimates is not a

recipe for trading higher. American Express ( AXP ) outpaced

second-quarter profit estimates, but its shares dropped 2.3%.

Netflix ( NFLX ) fell 5.1% despite the success of "Squid Game"

helping the company surpass earnings forecasts. The streaming

company also lifted its annual revenue outlook.

BNP's Boutle said while not all individual stocks popped

from earnings, the broader market has continued to grind higher.

More meaningful market gains could come, he added, should some

major companies deliver blowout numbers.

Cryptocurrency stocks rose after the U.S. House of

Representatives passed a bill that would develop a regulatory

framework for cryptocurrencies. Robinhood Markets ( HOOD ) and

Coinbase Global ( COIN ) were up 4.1% and 2.2%, respectively.

Of the S&P sectors in positive territory, utilities

was the biggest gainer. Its 1.7% advance pushed the

index to a record close.

Energy led those in the red, falling 1%. It was weighed

down by SLB, which dropped 3.9% after reporting lower

quarterly profit and a downbeat outlook, and Exxon Mobil ( XOM )

, which slumped 3.5% after losing a landmark legal battle

over Chevron's ( CVX ) acquisition of Hess.

For the week, the S&P 500 gained 0.59%, the Nasdaq rose

1.5%, and the Dow slipped 0.07%.