US stocks end lackluster week

19 July, 2021 12:00 AM printer

NEW YORK: Wall Street stocks fell Friday, ending a lackluster week on a negative note amid uncertainty over the outlook for global growth and inflation.

Analysts pointed to profit taking as a factor in Friday's session and throughout the week following records earlier in the month. The losses pushed all three major indices into the red for the week, reports AFP.

Investors are "continuing to trim winning positions," said analyst Patrick O'Hare, as investors await more clarity on the course of the economy.

The broad-based S&P 500 ended down 0.8 percent at 4,327.16, taking its weekly losses to around one percent.

The Dow Jones Industrial Average fell 0.9 percent to 34,687.85, while the tech-rich Nasdaq Composite Index dropped 0.8 percent to 14,427.24.

Retail sales rose 0.6 percent last month, an unexpectedly strong performance as shoppers stepped up purchases at department stores and electronics outlets as pandemic business restrictions ease.