Stocks ended mixed but mostly weaker Friday amid consolidation following the week's big gains. The Dow Jones industrial average dipped by 0.6 percent, the S&P 500 eased 0.1 percent, and the Nasdaq was up 0.4 percent. US Treasury yields, the dollar and oil prices all rose.

Friday was correction day with bond yields rising as traders took profits on the week's bond market rally which has been spurred by expectations for at least three Federal Reserve rate cuts starting next week. Stocks saw profit-taking too though expectations for lower interest rates helped megacaps to advance and the Nasdaq set another closing high. Weaker than expected consumer sentiment figures added to the narrative widely accepted in markets that a weakening economy will bring rate cuts that are likely to head off a severe economic downturn.

Among sectors, best performers were growth stocks paced by information technology, consumer discretionary and communications services plus utilities. Lagging were industrials, financials, real estate, consumer staples, materials and health care.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.