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* China to hold press briefing at 10 a.m. ET
* U.S., Chinese tariffs to take effect on Dec. 15
* Adobe rises after Q4 revenue, profit beat
* Dow off 0.05%, S&P 500 down 0.09%, Nasdaq flat (Adds comments, updates to open)
Dec 13 (Reuters) - U.S. stocks traded in a tight range on Friday, as investors treaded cautiously ahead of a news briefing by Chinese officials on the state of trade talks with the United States.
Beijing will hold a news briefing at 11 p.m. local time (10 a.m. ET), China’s State Council Information Office said.
Wall Street opened lower after President Donald Trump said a report about a trade deal with China was completely wrong, dashing hopes that the two sides would arrive at an agreement in time to avoid new tariffs scheduled for Sunday.
“At this point I don’t think we know what we know about the deal,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
“We thought they were going to affirm what was told yesterday but that seems to be in question, so markets are going to pause, and wait and see.”
Stocks had initially taken comfort from news that the United States and China would reach an initial deal to end their trade war after Washington set its terms for an agreement.
Still, a positive tone on trade recently helped Wall Street’s main indexes touch record levels on Thursday, while futures hit all-time highs earlier in the session on Friday.
The S&P 500 index is also up more than 26% in 2019, putting it on track for its best annual performance in six years, helped by interest rate cuts and some relief in corporate profits.
At 9:46 a.m. ET the Dow Jones Industrial Average was down 13.29 points, or 0.05%, at 28,118.76, the S&P 500 was down 2.81 points, or 0.09%, at 3,165.76 and the Nasdaq Composite was up 0.15 points, or 0.00%, at 8,717.46.
Broadcom Inc dropped 3.2% as analysts were wary of the chipmaker’s revenue forecast for 2020.
Adobe Inc rose 4.2% after the company beat analysts’ estimates for fourth-quarter revenue and profit.
Declining issues outnumbered advancers for a 1.19-to-1 ratio on the NYSE and for a 1.06-to-1 ratio on the Nasdaq.
The S&P index recorded 20 new 52-week highs and no new low, while the Nasdaq recorded 39 new highs and 21 new lows. (Reporting by Shreyashi Sanyal and Susan Mathew in Bengaluru; Editing by Anil D’Silva)