Stocks were mixed on Friday as hotter-than-expected inflation data throughout the week continued to weigh on investor sentiment. The Dow Jones Industrial Average rose over 100 points, while the S&P 500 Index and Nasdaq Composite fell 0.3% and 0.6%, respectively.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Wall Street ended the week mixed as well, with the Dow falling 0.13% for its third straight negative week. The S&P 500 declined 0.28% for its second losing week in a row, while the Nasdaq rose 0.59%.
Market participants are growing more concerned about the health of the economy amid increasing interest rates by the Federal Reserve as policymakers work to tame persistently high inflation. This past week was met with hotter-than-expected inflation readings, as well as stronger-than-expected retail sales and a continuously tight labor market.
Economists at Bank of America
"Resurgent inflation and solid employment gains mean the risks to this outlook are too one-sided for our liking," wrote analysts at Bank of America. "March and May hikes appear very likely, and the Fed might have to hike further if inflation, job growth, and consumer demand refuse to soften."
On the earnings front, DraftKings
Elsewhere for stocks, Moderna
Looking ahead, investors will continue to comb through quarterly corporate earnings for more signs of inflation's impact on consumers. Heavyweights like Etsy