FOX Business: Capitalism Lives Here
U.S. equity markets fell deeper into the red for the week on Friday as traders digested the latest consumer sentiment data.
As of 10:08 a.m. ET, the Dow Jones Industrial Average fell 42 points, or 0.25%, to 16804, the S&P 500 dipped 3.4 points, or 0.18%, to 1953 and the Nasdaq Composite slumped 3.2 points, or 0.07%, to 4376.
The markets have meandered lower this week as traders have dealt with somewhat disappointing data and chatter about future rate hikes from the Federal Reserve.
Nike (NKE) posted better-than-expected quarterly earnings after the bell on Thursday, sending shares of the blue-chip footwear maker rising.
Friday was off to a fairly quiet start. A gauge of consumer sentiment from Thomson Reuters and the University of Michigan rose to 82.5 in June, from a final reading of 81.9 in May, beating Wall Street’s expectations of an increase to 82.
In commodities, U.S. crude oil futures rose 4 cents, or 0.04%, to $105.88 a barrel. Wholesale New York Harbor gasoline gained 0.4% to $3.098 a gallon. Gold dipped 10 cents, or 0.01%, to $1,317 a troy ounce.