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U.S. stocks close mixed amid economic data

NEW YORK
2017-07-01 04:48

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U.S. stocks closed mixed on Friday, the last trading day of the quarter, as investors digested a slew of economic reports.

The Dow Jones Industrial Average was up 62.60 points, or 0.29 percent, to 21,349.63. The S&P 500 added 3.71 points, or 0.15 percent, to 2,423.41.

The Nasdaq Composite Index decreased 3.93 points, or 0.06 percent, to 6,140.42. Personal income increased 67.1 billion U.S. dollars, or 0.4 percent in May, according to estimates released Friday by the U.S. Commerce Department, higher than market expectations.

The personal consumption expenditures price index, the Federal Reserve's preferred measure of inflation, declined 0.1 percent for May following a 0.2 percent gain the previous month. The year-on-year rate declined to 1.4 percent from 1.7 percent, lower than the expected rate of 1.5 percent.

U.S. consumer sentiment fell to 95.1 in June, hitting the lowest level since November 2016, according to a survey released by the University of Michigan on Friday.

In corporate news, Nike reported fourth-quarter earnings that came in above Wall Street's expectations.

The company also confirmed a major deal with Amazon. Shares of Nike rose nearly 11 percent to 59 dollars apiece.

For the week, the blue-chip Dow edged down 0.2 percent, and the broader S&P 500 lost 0.6 percent, while the tech-heavy Nasdaq plunged 2.0 percent.

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