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NEW YORK (AP) — The stock market logged its first weekly loss since early August on Friday after a report showed that retail sales in August rose more than economists had forecast. That reinforced expectations that the Federal Reserve could start hiking interest rates sooner than expected.
Dividend-rich utility stocks and energy stocks led the losses.
On Friday:
The Dow Jones industrial average fell 61.49 points, or 0.4 percent, to 16,987.51
The Standard & Poor's 500 index rose 11.91 points, or 0.6 percent, to 1,987.54
The Nasdaq composite dropped 24.21 points, or 0.5 percent, to 4,567.60
For the week:
The Dow is down 149.85 points, or 0.9 percent.
The S&P 500 is down 22.17 points, or 1.1 percent.
The Nasdaq is down 15.30 points, or 0.3 percent.
For the year:
The Dow is up 410.85 points, or 2.5 percent.
The S&P 500 index is up 137.18 points, or 7.4 percent.
The Nasdaq is up 391.01 points, or 9.4 percent.
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