By Anora Mahmudova, MarketWatch
NEW YORK (MarketWatch) -- The U.S. stock market edged lower on
Friday and was set to finish the week with modest losses. The
economic calendar was thin on news, with only a consumer sentiment
report on tap.
The S&P 500 (SPX) was off 2 points, or 0.2%, at 1,954.29, on
track for a small weekly loss.
The Dow Jones Industrial Average (DJI) slipped 20 points, or
0.1%, to 16,828.98 and was set to end the week lower.
The Nasdaq Composite (RIXF) was a point higher at 4,380.33 and
was set to finish the week roughly where it started.
Investors awaited the June University of Michigan
consumer-sentiment index to gauge if the economy is back on a
stronger growth track. The reading is set for release at 9:55 a.m.
Eastern Time, and it is expected to rise to 81.9 from a flash
estimate of 81.2, according to economists polled by
MarketWatch.
Nike Inc.(NKE): The maker of sporting apparel and gear reported
stronger-than-expected earnings for the fiscal fourth quarter, as
revenue grew across almost all its main markets. Shares rose
2.6%.
Finish Line Inc.(FINL): The sports company posted fiscal
first-quarter results that topped forecasts. Shares jumped 3%.
GoPro Inc.(GPRO): The maker of digital sports cameras saw its
shares jump more than 30% in its first day of trading, closing at
$31.34. Shares were up 4.7%. Read: Is GoPro IPO the next Facebook
-- or Twitter? Vote in our poll
The Michaels Cos.(MIK): The arts and crafts retailer is set to
begin trading on Friday and has priced its initial public offering
at $17 a share. Also read: Mover and Shakers.
In other markets, Asian stocks closed mostly lower, while
European benchmarks were mixed and headed for weekly losses. Both
oil (CLQ4) and gold prices (GCQ4) ticked up, while the dollar (DXY)
moved lower.
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