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

 WAIT BEFORE YOU GO...

This year, the ground feels uncertain — facts are buried and those in power are working to keep them hidden. Now more than ever, independent journalism must go beneath the surface.

At Truthdig, we don’t just report what's happening — we investigate how and why. We follow the threads others leave behind and uncover the forces shaping our future.

Your tax-deductible donation fuels journalism that asks harder questions and digs where others won’t.

Don’t settle for surface-level coverage.

Unearth what matters. Help dig deeper.

Donate now.

SUPPORT TRUTHDIG
In this Article:
#consumer spending#dow jones#economy#stock market#technology