Traders work on the floor of the New York Stock Exchange during morning trading on June 12, 2024.
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the Nasdaq Composite It rose on Friday to close at a record high for the fifth straight session.
The technology-heavy index rose 0.12% to close at 17,688.88. the Standard & Poor's 500 It fell by 0.04%, closing at 5,431.60, snapping a four-day winning streak. the Dow Jones Industrial Average The stock fell 57.94 points, or 0.15%, to close at 38,589.16 points.
The University of Michigan Survey of Consumers showed that consumer confidence fell to 65.6 in June, down from 69.1 in May. This reading was also below the Dow Jones estimate of 71.5.
Eight of the 11 sectors in the S&P 500 fell during the session, with telecommunications and information technology services and consumer goods emerging as the only winners. Within the broad market index, more than 360 stocks ended today's trading with declines.
“The reality is that, even in these bull markets, there are going to be days where you pause and people make some gains. We had a strong performance, especially after the weak PPIs and the weak CPI… On Byrd: “I think it's a nice natural place to stop after a very strong hike.”
Hopes for a continued slowdown in inflation were boosted by the Standard & Poor's 500 and Nasdaq indexes this week. The S&P 500 and Nasdaq Composite indexes ended the week higher by about 1.6% and 3.2%, respectively.
Wholesale inflation unexpectedly fell 0.2% last month, while economists polled by Dow Jones expected the measure to rise 0.1%. This comes after the Consumer Price Index reading was flat on a monthly basis in May.
Elsewhere, the software giant Adobe The stock jumped 14.5% on Friday after fiscal second-quarter results beat Wall Street estimates. decreases in Larva And Boeing It affected the Dow Jones Index, while Carnival And Norwegian Cruise Line They were the biggest laggards in the S&P 500.
