Stocks Decline Amid Mixed Messages on Recovery: Markets Wrap
- U.S. Producer Prices increased in August by more than forecast
- Strategists from most top Wall Street banks express caution
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U.S. equities notched their biggest weekly decline since mid-June in volatile trading as investors assessed the latest read on the economy after more strategists weighed in with cautious comments on the market.
The S&P 500 fell 0.8%, pushing its loss for the holiday shortened week to 1.7%. Apple Inc. was the biggest decliner in the Dow Jones Industrial Average on Friday, after a court ordered the iPhone maker to make a change to the way it generates money from its App Store. Gold posted its first weekly decline since early August after data on U.S. producer prices rekindled debate over when the Federal Reserve will pull back on stimulus.