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Barchart
Rich Asplund

Stocks Erase Early Gains and End Lower on Rising Bond Yields

United States US Federal Reserve Dow Jones Industrials Barkin Citigroup Inflation ECB Richmond Fed University of Michigan

The S&P 500 Index ($SPX) (SPY) Friday closed down -0.41%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.12%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.54%.

Stock indexes Friday gave up early gains and settled moderately lower, with the S&P 500 and Nasdaq 100 retreating from all-time highs.  Stocks came under pressure Friday after stronger-than-expected US economic reports on Jun MNI Chicago PMI and the University of Michigan Jun consumer sentiment index pushed the 10-year T-note yield to a 2-week high. 

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