Markets' bumpy month ends with a dip
NEW YORK — Given the wild trading of late, it was a calm close to the month.
After flitting between tiny gains and losses most of Friday, the stock market closed mostly lower, a peaceful end to the most volatile month in nearly two years.
“It's a dull Friday,” said Gary Flam, a stock manager at Bel Air Investment Advisors. A bull market, he added, is “rarely a straight march up.”
The Standard & Poor's 500 index ended its bumpy ride in June down 1.5 percent, the first monthly loss since October. Still, the index had its best first half of a year since 1998 — up 12.6 percent.
Investors still seem unsure how to react to recent statements by Federal Reserve officials about when the central bank might end its support for the economy.
Mixed economic news added to investors' uncertainty Friday. An index of consumer confidence was almost unchanged, but a gauge of business activity in the Chicago area plunged.
“Investors don't know what to make of the news,” said John Toohey, vice president of stock investments at USAA Investment Management. “I wouldn't be surprised to see more ups and downs.”
The S&P 500 stock index closed down 6.92 points, or 0.4 percent, to 1,606.28. The Dow Jones industrial average fell 114.89 points, or 0.8 percent, to 14,909.60. The Nasdaq composite index rose 1.38 points, or 0.04 percent, to 3,403.25.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Delay sought in enforcing regulation to make mortgages easier to understand
- West Coast port slowdown a $100M blow to apple growers
- Female CEOs’ pay outpaces male colleagues
- Fuel and potential fires for U.S. economy ahead
- Vehicle won’t run if sensor is on the fritz
- Trib 30 index of stocks gains 0.7% in May
- Looking to save fuel? Check online
- GMC Sierra is part workhorse, part command center
- Overhaul possible for West Mifflin’s Century III Mall
- Honda thinks outside box
- Chevron settles fatal shale well fire lawsuit, state claims for nearly $6M