NEW YORK, Ny (KFOR) – Stocks wobbled to a mixed close on Wall Street Friday, but every major index notched weekly gains in a holiday-shortened week.
As investors saw a quiet day, concerns about inflation, high interest rates and a potential recession still hover over Wall Street.
The S&P 500 fell 1.14 points, or less than 0.1%, to close at 4,026.12. Nearly 70% of stocks in the benchmark index gained ground, but the broader market was dragged lower by technology companies. The Dow Jones Industrial Average rose 152.97 points, or 0.4%, to 34,347.03. The Nasdaq fell 58.96 points, or 0.5%, to 11,226.36.
Long-term bond yields were relatively stable but still hovered around multi-decade highs. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.70% from 3.69% late Wednesday.
Investors remain concerned about whether the Federal Reserve can tame the hottest inflation in decades by raising interest rates without going too far and causing a recession.
Investors also have their eyes on China’s lockdowns and restrictions., as the direction China takes will impact the rest of Asia and global supply chains.
Markets in Europe and Asia were mixed.
Expect things to heat up as Wall Street gets several big economic updates next week. The Conference Board business group will release its November report on consumer confidence, which could give investors more insight on how consumers are dealing with inflation. The U.S. government also releases its closely watched monthly employment report.
Yuri Kageyama contributed to this report.