U.S. stocks ended mixed on Friday, even as fresh data signaled the economy remains on solid footing.
The Dow Jones Industrial Average fell 142.3 points, or 0.32 percent, to 44,342.19. The Standard and Poor's 500 sank 0.57 points, or 0.01 percent, to 6,296.79. The Nasdaq Composite Index increased 10.01 points, or 0.05 percent, to 20,895.66.
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U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
Six of the 11 primary Standard and Poor's 500 sectors ended in red, with energy and health leading the laggards by dropping 0.96 percent and 0.6 percent, respectively. Meanwhile, utilities and consumer discretionary led the gainers by adding 1.71 percent and 0.98 percent, respectively.
Data released Friday on consumer sentiment and housing starts came in line with expectations, reinforcing the view that the U.S. economy remains steady despite ongoing tariff uncertainty.
Meanwhile, June retail sales surged 0.6 percent, higher than the 0.2 percent increase economists had predicted. Earlier, government figures showed consumer prices rising 2.7 percent year over year in June, up from 2.4 percent in May, which was in line with expectations. Core inflation, which strips out food and energy, came in at 2.9 percent, slightly below the 3 percent forecast.
"Tariffs are starting to bite American consumers," Heather Long, chief economist at Navy Federal Credit Union, wrote in a commentary. "People are starting to notice the price increases at the grocery store in coffee and fruit and in appliances and household items. It's only a matter of time before more price hikes take effect, especially for cars and trucks."
Despite solid economic signals, the data has complicated the Federal Reserve's path, as persistent inflation may limit the central bank's ability to cut interest rates in the near term.
On the earnings front, Netflix fell 5.1 percent even after topping expectations and raising revenue guidance, suggesting investors had already priced in strong performance. American Express dropped 2.35 percent despite a beat, while 3M fell 3.65 percent. In contrast, Charles Schwab gained 2.9 percent to a record high after its earnings release.
Mega-cap tech stocks were mixed. Tesla rose 3.21 percent, while Apple, Amazon, Meta and Alphabet all posted gains. Nvidia and Microsoft slipped slightly, and Broadcom declined 1.09 percent.
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
U.S. stocks close mixed after inflation, housing data released
