EDITOR'S NOTE
The Dow Jones Industrial Average and the S&P 500 closed in the red for the fifth straight session to finish out the holiday-shortened week.
Shares of Apple weighed on the indexes. The stock fell 3.3% Friday after a federal judge ruled Apple could no longer force developers to use in-app purchasing in a high profile trial with Epic Games.
The Dow, S&P 500 and the Nasdaq Composite all ended the week lower. Investors are watching both persistent Covid cases slowing the economy as well as rising prices that would prompt the Federal Reserve to remove easy monetary policies.
"It's been a week that's really taken its cue from the delta variant," said Jack Ablin, Cresset Capital Management's founding partner and CIO. "Investors are wringing their hands over growth but are seeing higher inflation at the same time."
The latest inflation reading, the August producer prices index, showed wholesale costs increased 8.3% from the year prior — the largest year-over-year rise on record.
All eyes are on the consumer price index for August, set to be released Tuesday, as the Federal Reserve monitors economic indicators to decide when it will taper its bond-buying program. TOP NEWS
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Jumat, 10 September 2021
Dow falls five straight sessions | Red-hot PPI | What does paint have to do with inflation?
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