S&P ends with first weekly loss since early August

Friday, September 12, 2014
The Standard & Poor's 500 index is ending with its first weekly loss since early August.

Dividend-rich utility stocks led the losses, and the index slipped 11 points, or 0.6 percent, to 1,985 Friday. The S&P 500 fell 1.1 percent for the week.

Its previous down week ended August 1, when the S&P 500 fell 2.75 percent.

The Dow Jones industrial average fell 61 points, or 0.4 percent, to 16,987. The Nasdaq lost 24 points, or 0.5 percent, to 4,567.

Bond prices fell, pushing up the yield on the 10-year Treasury note to 2.61 percent, from 2.55 percent late Thursday.

Bond prices fell after news that August U.S. retail sales rose faster than economists predicted. That reinforced expectations that the Federal Reserve could start hiking interest rates sooner than expected.
Related Topics:
business economy wall street stocks business earnings u.s. & world retail federal reserve New York
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