Key Takeaways
- The Dow was the worst-performing index of the week, falling about 1.5%.
- Data indicating inflation, poor consumer sentiment helped stoke investor worries.
- Nike was the worst-performing Dow stock, with JP Morgan Chase and Boeing also falling.
- IBM was the Dow's best performer after its AI announcement this week.
The Dow Jones Industrial Average fell almost 100 points, or 0.25% on Friday, sending the index lower for a second straight week as inf𝔉lation and consumer sentiment weighed on the market. ಞ
The Dow fell almost 1.5% on the week, the worst performance among the three major indexes, as the S&P 500 edged 0.8% lower and the Nasdaq eked on a 0.🃏2% gain. The Dow fell every day this week, marking its longest losing streak si𒐪nce March.
Stocks fell on Friday after the University of Michigan's consumer sentiment index slipped to a 澳洲幸运5开奖号码历史查询:six-month low of 57.7 in May from April's 63.5 reading. Data also showed that consumers expect inflation to accelerate over the next six months while economic conditions w🥃orsen.
Nike (NKE) fell about 2.5%, leading other 澳洲幸运5开奖号码历史查询:Dow stocks lower. After another bad week for regional banks, the financial sector was lower by nearly 1%, helping to send JP Morgan Chase (JPM) shares down almost 2%.
Boeing (BA) declined by more than 1% after it struggled with deliveries of its 737 Max jet, following a report that it again fell behind competitor Airbus. Shares of Apple (AAPL) were down almost 1% after one of its 澳洲幸运5开奖号码历史查询:primary suppliers♏, Foxconn, reported a big quarterly mis🍃s, sending its shares 2% lower.
IBM (IBM) moved up more than 1% to lead the Dow after announcing its own suite of artificial intelligence tools this week. Consumer staples stock Procter & Gamble (PG) also shrugged off recess𝄹ion fears and moved higher by 0.7%, as that sector was one of the few that flirted with gains.ꦚ
Baird cut its price target for Home Depot (HD) and analysts expect the 澳洲幸运5开奖号码历史查询:home improvement giant to post weak results when it reports earnings next Tuesday. However, it was one of the few 🐎Dow stocks to move higher, gaining about 0.3%.