Azzad MarketWeek
Stocks fell last week as an up-and-down mix of trade progress and anxiety, economic news, and geopolitical tensions netted out.
The Standard & Poor’s 500 Index slid 0.39 percent, while the Nasdaq Composite Index slipped 0.63 percent. The Dow Jones Industrial Average declined 1.32 percent.
Trade, Geopolitics Dominate Sessions
Stocks largely languished for the first half of the week as investors awaited news from U.S.-China trade talks and key inflation reports.
Sentiment began to rise late Tuesday afternoon following upbeat comments about trade talks. Most of the market gains came before the U.S. and China separately announced the trade update, with little reaction when markets opened the next day.
Stocks peaked midweek, then declined despite a May report showing consumer inflation rose less than expected. Markets then trended a bit higher after a better-than-expected wholesale inflation report.
Beginning Friday morning, all three averages were under pressure all day following news of an escalated conflict in the Middle East. Oil prices pushed higher on Friday on supply concerns.
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