US close: Stocks lower following December PCE reading
Wall Street stocks closed lower on Friday despite a slightly better-than-expected US consumption reading.
At the close, the Dow Jones Industrial Average was down 0.75% at 44,544.66, while the S&P 500 lost 0.50% to 6,040.53, and the Nasdaq Composite was 0.28% weaker at 19,627.44.
In the background, the US dollar and gold futures were higher amid reports that the White House was set to impose 25% tariffs on Canada and Mexico on Saturday.
West Texas crude oil futures were down 0.28% to $72.53 a barrel and the yield on the benchmark 10-year Treasury note was more than two basis points higher at 4.541%.
On the macro front, the Department of Commerce revealed personal consumption expenditures jumped in December by 0.7% month-on-month (consensus: 0.6%). Core PCE, the Fed's preferred inflation gauge, price gains were steady at 2.8% year-on-year. The three and six-month core PCE measures, however, continued to move lower.
In the corporate space, Apple shares were down 0.67% at the close of trading despite the tech giant beating profit forecasts with its latest set of quarterly results.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dow Chemical Co. (DOW)$39.051.30%
Cisco Systems Inc. (CSCO)$60.600.20%
Amgen Inc. (AMGN)$285.420.15%
Dowdupont Inc. (DWDP)$0.000.00%
Merck & Co. Inc. (MRK)$98.82-0.13%
Verizon Communications Inc. (VZ)$39.39-0.20%
Walt Disney Co. (DIS)$113.06-0.33%
JP Morgan Chase & Co. (JPM)$267.30-0.35%
Visa Inc. (V)$341.80-0.36%
American Express Co. (AXP)$317.00-0.47%
Dow Jones - Fallers
Walgreens Boots Alliance, Inc. (WBA)$10.28-10.53%
Chevron Corp. (CVX)$149.19-4.56%
Nike Inc. (NKE)$76.90-1.83%
Boeing Co. (BA)$176.52-1.68%
Apple Inc. (AAPL)$236.00-1.57%
Travelers Company Inc. (TRV)$245.02-1.57%
3M Co. (MMM)$152.29-1.42%
International Business Machines Corporation (CDI) (IBM)$255.70-1.00%
Caterpillar Inc. (CAT)$371.44-0.94%
Coca-Cola Co. (KO)$63.48-0.89%
S&P 500 - Risers
Franklin Resources Inc. (BEN)$22.2010.37%
Eastman Chemical Co. (EMN)$99.517.53%
Electronic Arts Inc. (EA)$122.914.78%
AbbVie Inc (ABBV)$183.904.70%
Keysight Technologies Inc. (KEYS)$178.194.59%
Vertex Pharmaceuticals Inc. (VRTX)$461.684.41%
Corning Inc. (GLW)$52.084.18%
CIGNA Corp. (CI)$293.833.97%
Lam Research Corp. (LRCX)$81.053.31%
Alphabet Inc. Class A (GOOGL)$204.023.00%
S&P 500 - Fallers
Walgreens Boots Alliance, Inc. (WBA)$10.28-10.53%
Resmed Inc. (RMD)$236.51-8.33%
PPG Industries Inc. (PPG)$115.42-6.00%
Apache Corp. (APA)$21.93-6.00%
W.W. Grainger Inc. (GWW)$1,063.74-5.63%
Diamondback Energy Inc. (FANG)$164.36-4.90%
Hess Corp. (HES)$139.03-4.68%
Occidental Petroleum Corp. (OXY)$46.65-4.64%
Colgate-Palmolive Co. (CL)$86.67-4.61%
Chevron Corp. (CVX)$149.19-4.56%
Nasdaq 100 - Risers
Electronic Arts Inc. (EA)$122.914.78%
Vertex Pharmaceuticals Inc. (VRTX)$461.684.41%
Sirius XM Holdings Inc (SIRI)$24.014.34%
Lam Research Corp. (LRCX)$81.053.31%
Alphabet Inc. Class A (GOOGL)$204.023.00%
Alphabet Inc. Class C (GOOG)$205.602.82%
Texas Instruments Inc (TXN)$184.611.66%
KLA-Tencor Corp. (KLAC)$738.241.66%
Synopsys Inc. (SNPS)$525.481.65%
Broadcom Inc. (AVGO)$221.271.57%
Nasdaq 100 - Fallers
Walgreens Boots Alliance, Inc. (WBA)$10.28-10.53%
Qurate Retail Inc. (QRTEA)$0.35-4.82%
Seagate Technology Plc (STX)$96.36-3.98%
Align Technology Inc. (ALGN)$219.11-3.72%
Gen Digital Inc. (GEN)$26.91-3.10%
Trip.com Group Limited (TCOM)$70.17-2.87%
DENTSPLY Sirona Inc. (XRAY)$19.76-2.80%
Take-Two Interactive Software Inc. (TTWO)$185.51-2.56%
Fastenal Co. (FAST)$73.24-2.32%
Microchip Technology Inc. (MCHP)$54.30-2.25%