U.S. stocks fell today as the Fed appeared to downplay the likelihood of a large interest-rate cut. The utilities, communication services, and health care sectors were hit the hardest, while the energy and industrials sectors held up better. In economic news, the University of Michigan consumer sentiment index edged up from 98.2 to 98.4 in the preliminary July report. In corporate news, Microsoft reported results above estimates as strength across its business units drove strong sales and earnings. U.S. Treasuries fell today. The Dow Jones Industrial Average fell 178 points, or 0.7%, for the week.
The Dow Jones Industrial Average* was down 69 points or 0.3% to 27,154
The Standard & Poor's 500 Index was down 17 points or 0.6% to 2,978
The NASDAQ Composite Index was down 61 points or 0.7% to 8,146
The 30-year Treasury yield closed higher at 2.57% and the 10-year Treasury yield finished lhigher at 2.05%.
The spot price of gold fell $20.53 to $1,425.61
And the price of crude oil rose $0.77 to $56.07
See our Weekly Market Update.
The Dow Jones Indexes are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones Indexes © 2019 is proprietary to Dow Jones & Company, Inc.
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