Dow Jones Industrial Average: +0.21% or +72.28 points to 34,780.22
Stocks were mostly higher on Friday, building on the previous session's gains, as Wall Street posted its second consecutive positive week. The Dow Jones Industrial Average rose over 150 points in morning trade and the S&P 500 added 0.5%, while the Nasdaq Composite dipped 0.16% lower.
All three major averages ended the week higher, with the Nasdaq outperforming with a nearly 2% gain, while the S&P added 0.5% and the Dow ticked up 0.3%.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Consumer confidence further declines on inflation pressures:
The University of Michigan's consumer sentiment index fell lower in March's final print as more consumers reported reduced living standard due to rising inflation than any other time expect during the two worst recessions in the past fifty years: from March 1979 to April 1981, and from May to October 2008.
The institution's headline index fell to a reading of 59.4 on the month, below March's preliminary print of 59.7 and February's final print of 62.8.
Pending home sales fall for a fourth month in February:
Pending home sales--which track the number of homes that are under contract to be sold--declined for a fourth straight month in February, signaling that the U.S. housing market may be cooling down after its long hot streak.
The National Association of Realtors' (NAR) Pending Home Sales Index fell 4.1% in February over January, and dropped 5.4% from the same month a year ago, NAR reported Friday.
Bed Bath & Beyond reaches settlement with Ryan Cohen:
Bed Bath & Beyond
Bowen and Rosenzweig will join a four-member committee focused on exploring alternatives to unlock value from the company's buybuy BABY brand.
Cohen disclosed a 9.8% stake in the company earlier in March and challenged the company in a letter to narrow its focus and split up parts of its business to potentially unlock billions in shareholder value.
"Our company and Board have always been committed to evaluating all options to maximize long-term shareholder value, and we look forward to integrating our new directors' ideas to drive our continued transformation. Our buybuy BABY business is a tremendous asset, and we are committed to unlocking its full value," CEO Mark Tritton said in a statement.
"As we more forward, out goals will continue to focus on delivering value for our shareholders, enhancing experiences for our customers, executing on the transformation throughout our business, and creating new and exciting opportunities for our dedicated employees across all out banners," Tritton added.
Here's how benchmarks started trading after market open:
S&P 500 Index: +0.15% or +6.95 points to 4,527.11
