new york: Wall Street’s leading averages ended mixed on Friday as investors waited for the main US inflation report.
The Dow Jones Industrial Average rose 169.39 points (0.5%) to 33,869.27. The S&P 500 rose 8.96 points, or 0.22%, to 4,090.46. The Nasdaq Composite Index fell 71.46 points (0.61%) to 11,718.12.
Eight of the S&P 500’s 11 main sectors finished green, with energy and utilities up 3.92% and 2% respectively, according to Xinhua News Agency, outperforming the rest. Consumer discretion was the worst performing group, down 1.22%.
The preliminary reading for the University of Michigan consumer sentiment index rose to 66.4 in February from 64.9 in January, according to data released on Friday.
The US consumer price index for January, a key indicator of inflation, is due to be released on Tuesday.
US stocks have been very volatile this week as comments from the Federal Reserve suggested further rate hikes are likely to follow and that rate hikes could continue for an extended period of time.
The Dow is down 0.17% this week, the S&P 500 is down 1.11% and the tech stock Nasdaq is down 2.41%. Both the S&P 500 and the Nasdaq had their worst weeks since December.
Meanwhile, US-listed Chinese companies traded lower on Friday, with all top 10 stocks of the S&P US Listed China 50 Index ending the day weak.
Baidu and JD.com stocks fell 6.13% and 5.7% respectively, leading the top 10 declines.
Shares of Li Auto and Alibaba Group Holding fell 5.51% and 4.43% respectively, the worst performers among the top 10 stocks.
The Cboe volatility index, widely considered the best fear index in the stock market, fell 0.87% to 20.53. As of Thursday, the S&P US Listed China 50 Index, designed to track the performance of China’s 50 largest companies listed on U.S. exchanges by total market capitalization, was at 2,893.42, up over the month. recorded a loss of 0.59%. – 12.59 percent increase in date return and year-to-date return. – Bernama
