New York CNN —The benchmark S&P 500 index closed in correction territory on Friday, ending a week made volatile by weaker-than-expected earnings reports and strong economic data.
The S&P 500 fell 0.5%, marking a more than 10% drop from its most recent July peak.
Amazon shares rose 6.8% on Friday after the e-commerce giant reported a beat on top-and bottom-lines for its most recent quarter.
Excluding gas and food prices, the core PCE index rose 3.7% for the 12 months ended in September, its smallest year-over-year increase since May 2021.
The index rose 0.3% on a monthly basis from the 0.1% rate seen in August.
Persons:
Dow, Jamie Dimon
Organizations:
New, New York CNN, Nasdaq, Chevron, ExxonMobil, Ford Motors, United Auto Workers, JPMorgan Chase, Dow, Gross, Commerce Department, Federal, Traders, The University of Michigan’s
Locations:
New York