The S&P 500 Index ($SPX) (SPY) Friday closed down by -0.13%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +0.33%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.53%.
Stocks on Friday settled mixed, with the Dow Jones Industrials climbing to a new record high but with the S&P 500 index and the Nasdaq 100 index closing lower. Friday’s US personal spending and income reports were weaker-than-expected and Fed-friendly. Also, the Aug core PCE price index, the Fed’s preferred inflation gauge, came in right on expectations, knocking T-note yields lower and supporting stocks. An upward revision to the University of Michigan US Sep consumer sentiment index to a 5-month high supported stocks. However, chip stocks turned lower Friday, weighing on the Nasdaq 100 and the broader market.
