At the close of trade, the Dow Jones Industrial Average index declined 201.81 points, or 0.56%, to 35,911.81. The S&P500 index added 3.82 points, or 0.08%, to 4,662.85. The tech-heavy Nasdaq Composite Index grew 86.94 points, or 0.59%, to 14,893.75. For the week, the Dow slid by 0.9%, while the Nasdaq and the S&P 500 both dipped by 0.3%
Total shares volume turnover on U.S. exchanges stood at 8.92 billion shares. Declining stocks outnumbered advancing ones on the NYSE exchange by 1994 to 1350 and 135 closed unchanged. In the NASDAQ, 2106 issues advanced, 2491 issues declined, and 281 issues unchanged.
Total 7 of 11 major S&P 500 sector indexes declined, with bottom performing issues were real estate (down 1.18%), financials (down 1%), materials (down 0.84%), and utilities (down 0.65%), while top performing issues included energy (up 2.44%) and information technology (up 0.89%).
Housing stocks saw considerable weakness on the day on heightened anticipation for higher interest rates and concerns over the economic outlook. On the other hand, energy stocks showed a substantial move to the upside on the day, benefiting from a sharp increase by the price of crude oil. Semiconductor stocks also showed a significant rebound after falling sharply on Thursday.
ECONOMIC NEWS: The Commerce Department said retail sales tumbled by 1.9% in December after edging up by a revised 0.2% in November.
Preliminary data released by the University of Michigan on Friday showed the consumer sentiment index fell to 68.8 in January from 70.6 in December.
The Federal Reserve also released a report showing industrial production edged down by 0.1% in December after climbing by an upwardly revised 0.7% in November.
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