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The S&P 500 rose on Friday, but Wall Street headed for a losing week amid concern that the Federal Reserve could raise rates more than expected.
The Dow Jones Industrials advanced 44.83 points to open the week’s final session at 34,545.56.
The much-broader index moved ahead 14.06 points to 4,465.20.
The NASDAQ index grabbed 62.14 points to 13,810.97.
Stocks are headed for a down week. The Dow has dropped 0.9% and S&P 500 has slumped 1.2%, while the NASDAQ lost 1.6%.
Shares of e-signature stock DocuSign lost 3.5% even after the company topped second-quarter estimates and posted rosy third-quarter guidance. RH dropped 10% as the home furnishings company reported soft guidance for third-quarter revenue.
Recent economic data, including lower-than-expected initial jobless claims, have reignited rate hike fears and concerns that the Federal Reserve may have more work ahead.
Prices for the 10-year Treasury gained ground, lowering yields to 4.22% from Thursday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices recovered 13 cents to $87.00 U.S. a barrel.
Gold prices climbed $6.90 to $1,949.40 U.S. an ounce.
