US Stocks Fall on Friday 09/17 09:26
Stocks edged lower in morning trading on Wall Street Friday as the market
heads for a weak ending to an up-and-down week of trading.
(AP) -- Stocks edged lower in morning trading on Wall Street Friday as the
market heads for a weak ending to an up-and-down week of trading.
Trading has been choppy throughout the week. Investors have been reviewing a
mixed bag of economic data to gain a better sense of how the economy is
weathering a spike in COVID-19 cases and how it might continue its recovery in
the coming months.
Wall Street is also keeping a close watch on the Federal Reserve. Investors
are looking for more information on how it plans on eventually easing support
for low interest rates. The central bank will meet next week.
The S&P 500 fell 0.5% as of 10:05 a.m. Eastern. The Dow Jones Industrial
Average fell 113 points, or 0.3%, to 34,636 and the Nasdaq fell 0.6%.
The benchmark S&P 500 is slightly lower for the week after moving back and
forth from daily gains to daily losses since Monday. This would mark the second
straight week of losses if it closes lower.
Technology companies were the biggest weight on the market. A mix of
communications and industrial companies also fell broadly. Apple fell 1% and
Facebook fell 1.3%.
Companies that rely on direct consumer spending rose. Travel-related and
retail stocks made solid gains. Carnival rose 2% and Gap rose 2.6%.
Bond yields rose. The yield on the 10-year Treasury rose to 1.37% from 1.33%
Oil prices fell 1% and natural gas prices fell 2.1%.