NEW YORK, Aug. 14 (Xinhua) -- U.S. stocks ended lower on Friday on weak macro data, even as the broader market notched its third consecutive weekly advance.
The Dow Jones Industrial Average fell by 107.58 points, or 0.2 percent, to 53,732.41. The S&P 500 sank 13.23 points, or 0.17 percent, to 7,785.76. The Nasdaq Composite Index shed 73.86 points, or 0.28 percent, to 26,729.16.
Six of the 11 primary S&P 500 sectors ended in the green, with energy and utilities leading the gainers by going up 1.36 percent and 0.55 percent, respectively. Meanwhile, health and technology led the laggards by losing 0.6 percent and 0.42 percent.
The U.S. Census Bureau reported Friday that U.S. retail sales fell 0.6 percent in July after an 0.2-percent increase in June, marking the steepest decline since May 2025.
Economists at PNC Financial said an analysis of bank data indicated households in July seemed more sensitive to higher gasoline prices than earlier in the year, creating a less supportive backdrop for spending in the second half of the year. However, they noted it was "difficult to envision a scenario where spending truly rolls over," given the rise in household wealth.
"Unexpected weakness in consumer spending isn't good news for the wider economy, but markets may embrace the data in the near term because it strengthens the case for avoiding rate hikes," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management, in a written commentary.
However, a preliminary reading of the University of Michigan's Surveys of Consumers also showed consumer sentiment dropped sharply in August to 51 from the final reading of 55.2 in July.
"Although the early-month weakening in sentiment was pervasive across various demographic groups, notably large reductions were seen among older consumers, lower-income consumers, and those without a college degree," said Joanne Hsu, director of the surveys.
Meanwhile, more than 90 percent of S&P 500 companies have reported second-quarter results, with earnings growth from the year-earlier period tracking around 50 percent, according to FactSet.
Shares of Reddit rose 12.63 percent after S&P Dow Jones Indices announced late Thursday that the stock would join the S&P 500 ahead of the opening bell on Tuesday.
