Stocks end lower to cap uneven week
The S&P 500 index closed out an uneven week of trading on Wall Street with its second straight weekly gain, even though stock indexes ended lower Friday.
Technology companies led the slide, which erased the major U.S. indexes’ gains from the day before. Communication services, industrials and health care stocks also fell, outweighing gains in real estate companies, banks and elsewhere in the market.
Investors continued to focus on company earnings reports. They’re searching for a clearer picture on the impact that the trade war between the U.S. and China is having on corporate profits and the
broader economy.
The S&P 500 index fell 11.75 points, or 0.4%, to 2,986.20. The index is just 1.3% below its all-time high set in late July.
The Dow Jones Industrial Average dropped 255.68 points, or 1%, to 26,770.20. The Nasdaq lost 67.31 points, or 0.8%, to 8,089.54. The Russell 2000 index of smaller stocks gave up 6.36 points, or 0.4%, to 1,535.48.
All told, the S&P 500 ended the week with a gain of 0.5%. Last week, it notched a 0.6% gain.
Smaller stocks outpaced the broader market, a sign that investors are gaining confidence. The Russell 2000 ended the week 1.6% higher after rising 0.8% last week.
Bond prices were little changed Friday. The yield on the 10-year Treasury held steady at 1.75%.
Benchmark crude oil fell 15 cents to settle at $53.78 a barrel Friday. Brent crude oil, the international standard, dropped 49 cents to close at $59.42 a barrel.
Gold fell $4.10 to $1,488.20 per ounce, silver fell 4 cents to $17.50 per ounce and copper rose 4 cents to $2.63 per pound.
The dollar fell to 108.46 Japanese yen from 108.68 yen on Thursday. The euro strengthened to $1.1163 from $1.1124.
Stock indexes in Europe closed broadly lower ahead of a weekend vote by Britain’s Parliament on the latest proposed deal covering its exit from the European Union. Britain is set to leave the trading bloc on Oct. 31.