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The S&P 500 fell marginally on Friday, pulling back from record highs after a decline in consumer sentiment.
The Dow Jones Industrials lost 60.01 points to 38,587.09.
The much-broader index gave back 2.08 points to 5,431.66
The NASDAQ moved carefully into positive country, 21.32 points, to 17,688.88.
Elsewhere, software giant Adobe leapt 14% Friday after fiscal second-quarter results surpassed Wall Street estimates. Shares of Caterpillar led the Dow lower, while Carnival, Norwegian Cruise Line and United Airlines were the biggest laggards in the S&P 500. The energy sector was also trading in the red on Friday.
Hopes for a continued cooling of inflation have boosted the S&P 500 and NASDAQ this week. The S&P 500 is on pace to end the week higher by 1.3%, and the NASDAQ by 1.3% and 2.7%. Both benchmarks hit record highs in the past five days as well.
The University of Michigan’s Survey of Consumers showed that consumer sentiment declined to 65.6 in June, down from 69.1 in May. This reading also came below the 71.5 Dow Jones estimate.
Wholesale inflation unexpectedly ticked down by 0.2% last month, while economists polled by Dow Jones expected the gauge to increase by 0.1%. That follows a consumer price index reading that was flat on a monthly basis in May.
Prices for the 10-year Treasury gained ground, lowering yields to 4.21% from Thursday’s 4.24%. Treasury prices and yields move in opposite directions.
Oil prices slid seven cents to $78.55 U.S. a barrel.
Gold prices regained $30.60 to $2,348.60
