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You are at:Home»Business»S&P Finishes Friday Lower, but Runs Monthly Streak to 4
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S&P Finishes Friday Lower, but Runs Monthly Streak to 4

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Stocks fell on Friday as investors took some money off the table into a long weekend following a new S&P 500 record and solid Nvidia earnings this week. New inflation data showed rising prices were still a risk heading into the new month.

The Dow Jones Industrials lost 92.02 points to 45,544.88

The broader index lost 41.60 points to 6,460.26, though it enjoyed its fourth winning month in a row.

The NASDAQ doffed 249.61 points, or 1.2%, to 21,455.55

Even with Friday’s losses, the indexes are on track to close out August with solid gains. The 30-stock Dow has logged a more-than-3% advance in August, while the S&P 500 has tallied a near-2% advance. The tech-heavy NASDAQ has seen an August gain of more than 1%.

Core PCE, a key inflation measure watched by the Federal Reserve which excludes the costs of food and energy, increased 2.9% in July, in-line with expectations but an acceleration from the prior month and the highest level since February.

Nvidia was among Friday’s key laggards, as shares extended their recent losses with a fall of 3%. That comes after the Wall Street Journal reported that Chinese e-ecommerce giant Alibaba has created a more advanced chip as it looks to fill the gap left by Nvidia running into issues around selling its chips in China. U.S. shares of Alibaba were up 12%.

Nvidia finished slightly lower on Thursday after reporting strong 56% revenue growth for the prior quarter and largely validating the AI trade for investors.

Additionally, tariff concerns have come back to the fore following some troubling commentary.

Caterpillar, for example, warned it could see a $1.5-billion to $1.8-billion hit this year from President Donald Trump’s tariffs, sending shares 3% lower. Gap also recently said that tariffs will weigh on profits. Those two updates could be adding to downbeat sentiment Friday,

Prices for 10-year Treasury lost ground mid-Friday, lifting yields to 4.23% from Thursday’s 4.20%. Treasury prices and yields move in opposite directions.

Oil prices shed 62 cents to $63.98 U.S. a barrel.

Gold prices gained $41.50 at $3,515.80 U.S. an ounce.



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