U.S. stocks fell on Friday as investors anticipate how much the Federal Reserve will be raising interest rates next Friday. Investors are uncertain whether the Fed will increase rates by half a percentage point or if it will be by three-quarters of a percentage point. The two-year U.S. Treasury note also climbed to its highest rate in over a decade.
The SP 500 went down by 2.91% to close at 3900.86. The Dow Jones Industrial Average fell 2.73% to close at 31392.79. The Nasdaq Composite ticked down 3.52% and closed at 11340.02.
Consumer price index (monthly) increased in May from 0.3% to 1.0%.
Core CPI (monthly) stayed flat at 0.6% in May.
CPI (year-over-year) went up from 8.3% to 8.6% in May.
Core CPI (year-over-year) dropped in May from 6.2% to 6.0%.
UMich consumer sentiment index (preliminary) declined from 58.4 to 50.2 in June.
5-year inflation expectations climbed to 3.3% in June, compared with 3.0% previously.
Federal budget balance was at -$66 billion in May.
The SP 500 went down by 2.91% to close at 3900.86. The index is down 5.05% over five days, down 3.06% over one month, down 7.22% over three months and down 18.16% over one year.
The trailing P/E is 21.54 compared to 37.39 one year ago and estimated future P/E 17.65. Dividend yield is currently 1.58 compared with 1.36 one year ago.
Leading stocks were NEM up 3.52%, CAH up 2.12%, HSY up 1.86%, BAX up 1.51% and K up 1.34%.
Trailing stocks were CZR down 9.29%, ILMN down 9.03%, ETSY down 8.70%, ADBE down 7.64% and BKN down 7.59%.
The Dow Jones Industrial Average went down 2.73% to close at 31392.79. The DOW is down 4.58% over five days, down 2.50% over one month, down 4.71% over three months and down 8.95% over one year.
The trailing P/E is 17.88 compared with 29.40 year ago and an estimated future P/E of 16.94. The current dividend yield is 2.22% compared with 1.81 one year ago.
Leading stocks were WMT up 0.56%, VZ down 0.24%, PG down 0.38%, WBA down 0.43% and KO down 0.63%.
Trailing stocks were DOW down 6.06%, GS down 5.65%, BA down 5.03%, CRM down 4.63% and JPM down 4.60%.
The NASDAQ composite went down 3.52% and closed at 11340.02. NASDAQ is down 5.60% over five days, down 3.94% over one month, down 11.71% over 3 months and down 19.40% over one year.
Leading stocks were REDU up 138.46%, MICS up 60.38%, CCOI up 58.67%, DRTS up 40.20% and RDBX up 39.39%.
Trailing stocks were ABVC down 47.37%, FULC down 39.18%, AXLA down 27.01%, GMVD down 26.57%, and BJDX down 24.54%.
The MidCap SP400 went down by 2.65% to close at 2403.07. The SP400 is down 4.68% for the past 5 days, down 1.14% for the past month, down 6.52% for the past 3 months and down 12.68% over the past year.
The SmallCap SP600 went down by 2.49% to close at 1189.63. The SP600 is down 4.33% for the past 5 days, up 0.33% for the past month, down 7.40% for the past 3 months and down 14.80% over the past year.
The CBOE VIX is up by 6.36% and closed at 27.75. The VIX is up 11.94% over five days, down 3.88% over one month, down 9.76% over three months and up 77.32% over one year.
On the New York stock exchange 521 stocks advanced and 2768 declined, while on Nasdaq 939 advanced and 3790 declined.
There were 4 new 52 week highs and 251 new 52 week lows on NYSE with 23 new highs and 470 new lows on NASDAQ.
The 2 year Treasury note v and 10 year is 3.037%. The 10-year yield is up 9.7% over five days, up 11.9% over one month, up 103.9% three months ago, and up 158.4% one year ago.
SP500 Sector Performance % Change:
Consumer Staples -0.37
Health Care -1.63
Real Estate -2.40
Communication Services -2.85
Information Technology -3.89
Consumer Discretionary -4.16
Consumer Staples has been down 2.61% over five days, down 7.17% over one month, down 0.01% over three months and up 2.35% over one year.
Consumer Discretionary has been down 6.07% over five days, down 5.02% over one month, down 14.28% over three months and down 18.79% over one year.