Stocks slipped on Wall Street after a report showed that sentiment is souring among U.S. consumers.
The S&P 500 lost 0.2% Friday. The Dow ended barely lower and the Nasdaq gave up 0.4%.
A preliminary survey said confidence in the economy among consumers is tumbling. Treasury yields rose because the data also suggested the Federal Reserve may need to keep interest rates high in order to undercut rising expectations for inflation. That in turn hurt Big Tech and other high-growth stocks, which were the heaviest weights on Wall Street. Worries are also still high about a possible default on the U.S. government’s debt.
On Friday:
The S&P 500 fell 6.54 points, or 0.2%, to 4,124.08.
The Dow Jones Industrial Average fell 8.89 points, or less than 0.1%, to 33,300.62.
The Nasdaq composite fell 43.76 points, or 0.4% to 12,284.74.
The Russell 2000 index of smaller companies fell 3.86 points, or 0.2%, to 1,740.85.
For the week:
The S&P 500 is down 12.17 points, or 0.3%.
The Dow is down 373.76 points, or 1.1%.
The Nasdaq is up 49.33 points, or 0.4%.
The Russell 2000 is down 19.03 points, or 1.1%.
For the year:
The S&P 500 is up 284.58 points, or 7.4%.
The Dow is up 153.37 points, or 0.5%.
The Nasdaq is up 1,818.26 points, or 17.4%.
The Russell 2000 is down 20.40, or 1.2%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.