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.

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#consumer spending#dow jones#economy#stock market#technology