United States stocks slowed on Friday as a recent rally took a time out in the middle of indications of a durable economy that increased hopes the Federal Reserve might end its rate-hike campaign quickly.
The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) ended up down about 0.3% on Friday, while the technology-heavy Nasdaq Composite (^IXIC) was down 0.7%. The S&P 500 and Nasdaq still ended up the week with their finest gains because March.
In financial information, the University of Michigan Consumer Sentiment Index revealed customers are a little more positive about the state of the economy, which might help tilt a “hawkish” Fed closer to a July rate walking.
The June initial number was available in at 63.9, compared to expectations of 60.5, according to quotes from Bloomberg. The index had actually dipped to 59.2 last month in its very first fall because February.
Global stocks got a lift from growing expectations that China will need to bump up stimulus as its healing stutters.
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