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Indexes down: Dow 0.31%, S&P 500 0.09%, Nasdaq up 0.02%

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Fed officials: tariffs to boost inflation, slow growth

this year

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Insulet ( PODD ) jumps after quarterly profit beats estimates

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Expedia ( EXPE ) falls after soft US travel demand leads to revenue

miss

(Updates with mid-session trading)

By Purvi Agarwal and Johann M Cherian

May 9 (Reuters) - Wall Street's main indexes seesawed on

Friday, as investors parsed President Donald Trump's latest

comments on U.S.-China tariffs ahead of a weekend of trade talks

between the two superpowers.

Trump said Beijing should open its market to the United

States and that 80% tariffs on Chinese goods "seems right." The

levies are currently at 145%.

Representatives from U.S. and China are scheduled to

meet in Switzerland over the weekend to discuss tariffs, with

investors hoping the talks will salve a bruising trade war that

has raised concerns over global economic growth and left

markets, companies and the Federal Reserve in wait-and-watch

mode.

"The tariff, whether it's 140% or 80%, the number sounds

like a difference, but if there's still a tariff of 80%, most

people are not going to buy stuff," said Michael Matousek, head

trader at U.S. Global Investors.

Investors are likely de-risking their portfolios ahead of

the meeting as it's unclear how long the trade talks could

stretch on before any major outcome, Matousek added.

On Thursday, Wall Street's main indexes closed higher as

investors cheered a trade deal struck between Britain and the

U.S. - the first of its kind since Trump paused his initial

tariffs last month.

Reuters reported India had offered to slash its tariff gap

with the U.S. to less than 4% from nearly 13% now, in exchange

for an exemption from Trump's tariffs, according to sources.

At 11:21 a.m. ET, the Dow Jones Industrial Average

fell 127.16 points, or 0.31%, to 41,241.29, the S&P 500

lost 5.14 points, or 0.09%, to 5,658.80 and the Nasdaq Composite

lost 2.84 points, or 0.02%, to 17,925.30.

Energy, up 0.8%, led gains among the 11 S&P 500

sectors. Funds tracking consumer discretionary stocks

outperformed in the week ended Wednesday, while financials were

hit the most, according to data compiled by LSEG.

Most megacap and growth stocks were lower on the day, but

Tesla outperformed with a 5.6% rise.

All three indexes are set for marginal declines this week,

but are hovering near levels seen in late March, having recouped

all the losses incurred in the aftermath of Trump's "Liberation

day" tariff announcement last month.

Days after the Federal Reserve left interest rates

unchanged, Fed policymakers pointed to increasing economic risks

from Trump's tariffs, echoing comments from Chair Jerome Powell

at the meeting earlier this week.

With the peak of the earnings season behind, about 76%

of S&P 500 companies have surpassed profit expectations. But

many have withdrawn their annual forecasts citing an uncertain

trade environment.

Expedia ( EXPE ) slipped 7.7% after the online travel

platform missed quarterly revenue estimates.

Trade Desk ( TTD ) shares jumped about 22% after the ad firm

posted first-quarter revenue and profit above Wall Street

estimates. Insulin delivery device maker Insulet ( PODD ) jumped

18.5% after beating estimates for first-quarter profit on

Thursday

Advancing issues outnumbered decliners by a 1.54-to-1 ratio

on the NYSE and by a 1.01-to-1 ratio on the Nasdaq.

The S&P 500 posted 3 new 52-week highs and one new low while

the Nasdaq Composite recorded 39 new highs and 58 new lows.