A sluggish summer week for stocks
For stock investors bored by the longest stretch of weekly calm in 22 years, there’s always next week. The Standard & Poor’s 500-stock index ended the five days lower by 0.4percent as the Greek debt crisis dragged on without resolution and economic data did little to change perceptions on the strength of the economy. The result was the ninth week with a move of less than 1 percent, the longest streak since 1993.
That leaves it to next week’s Greek repayment deadline and the U.S. jobs report to jolt equities from their two- month torpor before investors head to the beach for July Fourth.
“Greece needs to be resolved well, and we need to see improvement in the labor market with employment next Thursday,” said Paul Zemsky, of Voya Investment Management, which oversees $218 billion.
The Dow Jones industrial average slipped 0.4 percent to 17,946.68. The Nasdaq Composite Index fell 0.7 percent for its worst week since May 1, ending on a three-day slide after closing June 23 at a record.
The S&P 500 flirted with a record high as a flurry of deal talk sent health-care shares higher, and a Supreme Court ruling boosted hospital stocks.
The Treasury will sell $24 billion in threemonth bills and six-month bills Monday. They yielded 0.02 percent and 0.11 percent in whenissued trading. The Treasury will also sell four-week bills Tuesday.
Editor’s note: Going forward, our weekly composite stock listing highlights companies based in Washington or with a strong presence here. The rest of the table shows firms as ranked by market capitalization. And we’ve added year-to-date data because readers told us it would be useful.