Highlights
Stocks were flat to lower Friday to give back some of the week's gains but the major indexes managed to end up on the week as investors look for an end to the Iran war. For Friday, the Dow Jones industrial average lost 0.5 percent, the S&P 500 eased by 0.1 percent and the Nasdaq was up 0.4 percent. Bond yields rose, the dollar was mostly lower and oil prices slipped.
The market drew support from a somewhat better than feared consumer price report with core CPI up only 0.2 percent on the month versus the 0.3 percent rise analysts expected. Oil prices were relatively stable on the day; all are waiting for news from the weekend talks aimed at ending the US and Israeli war with Iran.
A better showing for megacaps Friday offset weakness across most of the rest of the market as the only positive sectors were consumer discretionary, technology and materials.
Definition
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.
Description
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.