US stocks were in the red early on Friday as investors eyed inflation and consumer confidence data.
At 1525 GMT, the Dow Jones Industrial Average was down 0.33% at 33,670.14, while the S&P 500 lost 0.26% to 3,953.28 and the Nasdaq Composite came out the gate 0.32% weaker at 11,046.42.
The Dow opened 111.34 points lower on Friday, taking a bite out of gains recorded in the previous session.
Stocks traded lower as market participants prepped for a busy economic calendar next week, with a fresh CPI reading scheduled for release.
On the macro front, producer prices increased 0.3% to 140.98 points in November, according to the Bureau of Labor Statistics, up from 140.56 points in October and ahead of forecasts, driven by services and underscoring the stickiness of inflationary pressures. The hotter-than-expected inflation report weighed on positive sentiment regarding the Federal Reserve’s ability to soon halt its interest rate hiking campaign.
Elsewhere, a preliminary reading of the University of Michigan’s consumer confidence showed an unexpected jump to 59.1 in December, up from 56.8 in November and beating market forecasts for a reading of 56.9.
On the corporate front, Broadcom will report fourth-quarter earnings before the day is out.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones – Risers
Boeing Co. (BA) $182.81 2.08%
Dow Chemical Co. (DOW) $51.13 1.13%
3M Co. (MMM) $127.25 0.99%
Walt Disney Co. (DIS) $93.46 0.98%
Verizon Communications Inc. (VZ) $37.39 0.78%
Intel Corp. (INTC) $28.52 0.27%
Caterpillar Inc. (CAT) $231.48 0.24%
Salesforce.Com Inc. (CRM) $130.39 0.20%
JP Morgan Chase & Co. (JPM) $133.07 0.14%
Goldman Sachs Group Inc. (GS) $358.50 0.12%
Dow Jones – Fallers
Walmart Inc. (WMT) $146.66 -1.42%
Nike Inc. (NKE) $110.13 -1.10%
Chevron Corp. (CVX) $171.82 -0.99%
Microsoft Corp. (MSFT) $245.69 -0.69%
Amgen Inc. (AMGN) $283.82 -0.61%
Walgreens Boots Alliance, Inc. (WBA) $40.66 -0.59%
Unitedhealth Group Inc. (UNH) $545.32 -0.47%
Home Depot Inc. (HD) $322.82 -0.39%
Coca-Cola Co. (KO) $63.58 -0.36%
Apple Inc. (AAPL) $142.36 -0.21%
S&P 500 – Risers
Netflix Inc. (NFLX) $324.97 4.74%
Broadcom Inc. (AVGO) $551.01 3.75%
Boeing Co. (BA) $182.81 2.08%
NetApp Inc. (NTAP) $65.25 2.08%
Evergy, Inc. (EVRG) $63.28 2.06%
Arista Networks Inc. (ANET) $130.71 2.01%
Western Digital Corp. (WDC) $35.88 1.85%
Arconic Inc. (ARNC) $22.44 1.81%
Ipg Photonics Corp. (IPGP) $94.17 1.76%
Apache Corp. (APA) $43.46 1.61%
S&P 500 – Fallers
Devon Energy Corp. (DVN) $61.78 -2.71%
Amerisource Bergen Corp. (ABC) $166.08 -2.57%
PVH Corp. (PVH) $74.07 -2.23%
Nektar Therapeutics (NKTR) $2.84 -2.07%
Cooper Cos Inc. (COO) $312.92 -2.04%
Gap Inc. (GPS) $14.30 -1.92%
Dollar Tree Inc (DLTR) $142.01 -1.72%
Cognizant Technology Solutions Corp. (CTSH) $58.29 -1.70%
TJX Companies Inc. (TJX) $77.35 -1.69%
McKesson Corp. (MCK) $375.19 -1.69%
Nasdaq 100 – Risers
Netflix Inc. (NFLX) $324.97 4.74%
Broadcom Inc. (AVGO) $551.01 3.75%
Tesla Inc (TSLA) $178.27 2.78%
Mercadolibre Inc. (MELI) $902.76 2.09%
Western Digital Corp. (WDC) $35.88 1.85%
Comcast Corp. (CMCSA) $35.51 1.54%
Workday, Inc. (WDAY) $171.91 1.52%
Baidu Inc. (BIDU) $122.00 1.39%
Vodafone Group Plc ADS (VOD) $10.63 1.38%
Dish Network Corp. (DISH) $14.81 1.30%
Nasdaq 100 – Fallers
Dollar Tree Inc (DLTR) $142.01 -1.72%
Cognizant Technology Solutions Corp. (CTSH) $58.29 -1.70%
JD.com, Inc. (JD) $59.41 -1.59%
Starbucks Corp. (SBUX) $102.47 -1.22%
Regeneron Pharmaceuticals Inc. (REGN) $756.06 -1.22%
Trip.com Group Limited (TCOM) $33.31 -1.16%
Electronic Arts Inc. (EA) $124.83 -1.01%
Vertex Pharmaceuticals Inc. (VRTX) $318.06 -1.01%
NetEase Inc. Ads (NTES) $70.56 -0.92%
Idexx Laboratories Inc. (IDXX) $424.76 -0.88%
