Updated from 3:17 p.m. EDT
Stocks in the U.S. closed out the week with losses Friday following a government report showing inflation at the consumer level was higher than expected last month and comments from the chairman of the Federal Deposit Insurance Corp. that indicated management changes at financial firms may be coming.
After opening in positive territory, the Dow Jones Industrial Average retreated and closed lower by 62.68 points, or 0.8%, at 8268.64. The S&P 500 gave back 10.19 points, or 1.1%, to finish at 882.88. The Nasdaq Composite also relinquished early gains and ultimately gave back 9.07 points, or 0.5%, to 1680.14.
The economic docket was in focus following the release of the consumer price index. The headline CPI number was unchanged in April, in line with expectations. However, the core number, which excludes food and energy, rose 0.3%, well above the consensus target of 0.1% and the biggest increase since July of last year. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,455.93 | 1,108.43 | 2,200.81 | 36.05 |
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