The news from Wall Street wasn’t great as the week wrapped up and trading shut down Friday, although it wasn’t bad across the board. The stock market took a tumble, registering ongoing worries about consumer spending trends, but hey, at least the technology sector was hanging in there. –KA

The Wall Street Journal:

The Dow Jones Industrial Average slipped 48 points, or 0.5%, to 10124.65, hurt by declines in its consumer-oriented components. Home Depot dropped 2.4%, while Procter & Gamble fell 2% and Coca-Cola fell 1.2%.

The S&P 500 was off 0.3%. But the Nasdaq Composite Index managed a 0.3% gain.

The Commerce Department said retail sales fell 1.2% in May as consumers slowed their spending on cars, clothing and other goods. Economists were expecting a 0.2% increase. More encouragingly, the Reuters/University of Michigan consumer-sentiment survey rose to 75.5, above the 74 reading expected by economists.

Read more

Your support matters…

Independent journalism is under threat and overshadowed by heavily funded mainstream media.

You can help level the playing field. Become a member.

Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.

Give today to support our courageous, independent journalists.