U.S. stocks rallied Friday, but closed the week lower as fresh economic data heightened inflation fears.
 | FRI, NOV 12, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 149.99 | +2.12 | +1.43% | | DIS | 159.63 | -2.48 | -1.53% | | INTC | 50.31 | -0.22 | -0.44% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 19.50 | -0.05 | -0.26% | | AAPL | 149.99 | +2.12 | +1.43% | | AMD | 147.89 | +1.88 | +1.29% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 149.99 | +2.12 | +1.43% | | AMD | 147.89 | +1.88 | +1.29% | | NVDA | 303.90 | UNCH | UNCH | |
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U.S. stocks rallied Friday, but closed the week lower as fresh economic data heightened inflation fears. All three major stock averages snapped a five-week winning streak after the October consumer price index released Wednesday showed inflation at its hottest pace in more than 30 years. Consumer sentiment in early November dropped to its lowest level in a decade with many survey respondents citing inflation concerns, the University of Michigan reported Friday. "If the past few months have shown anything, it's that one way to occasionally cool off a hot stock market may be to douse it with hot inflation data," said Mike Loewengart, managing director for investment strategy at E-Trade Financial.  Indeed, inflation looms large over investors. Through Friday, 285 companies in the S&P 500 have discussed inflation during their third-quarter earnings calls — the highest number since 2010, according to FactSet. A number of big-box retailers are set to report earnings next week, including Home Depot, Walmart and Target. Investors will be paying close attention to what these companies say about supply chain issues. "As we look ahead to next week, a slew of retail earnings could offer some guidance on the outlook for supply chain disruptions which tends to play into inflation," Loewengart said. |
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