US Stocks Close Mixed Amid Middle East Tensions and Inflation Concerns
US stocks today: US stocks end mixed, notches weekly gains as investors parse Middle East negotiations
The Economic TimesImage: The Economic Times
U.S. stocks ended mixed on Friday, with the Dow and S&P 500 dropping while the Nasdaq gained, as investors monitored ongoing Middle East negotiations and inflation data. Despite the mixed close, all three indexes recorded weekly gains, reflecting market resilience amid geopolitical tensions.
- 01The Dow Jones Industrial Average fell by 282.62 points, or 0.59%, closing at 47,903.18 points.
- 02The S&P 500 lost 6.76 points, or 0.10%, ending at 6,817.90 points.
- 03The Nasdaq Composite gained 78.64 points, or 0.35%, closing at 22,901.06 points.
- 04Consumer price growth accelerated due to the ongoing war in Iran, with gasoline prices surging by 21.2%.
- 05Analysts predict a 13.9% year-on-year earnings growth for the S&P 500 during the upcoming reporting season.
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U.S. stocks closed mixed on Friday as investors remained cautious ahead of the weekend, monitoring ongoing peace negotiations in the Middle East. The Dow Jones Industrial Average fell by 282.62 points (0.59%) to 47,903.18 points, and the S&P 500 dropped 6.76 points (0.10%) to 6,817.90 points. In contrast, the Nasdaq Composite gained 78.64 points (0.35%), closing at 22,901.06 points. The mixed performance followed a closely watched inflation report indicating a significant rise in consumer prices, driven by the war in Iran, which saw gasoline prices increase by 21.2%. Despite the day's fluctuations, all three indexes notched weekly gains, reflecting resilience amid geopolitical tensions. Analysts are cautiously optimistic about the upcoming earnings season, with expected S&P 500 earnings growth of 13.9% year-on-year. The market's performance has been influenced by recent trends where stocks typically perform better early in the week, leading to hesitancy among traders as they prepare for a long weekend.
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The rising inflation could lead to increased costs for consumers, particularly in energy, affecting household budgets and spending power.
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