BBWI - Dow Heads for Worst Week Since September
Stocks fell Friday and headed for weekly losses as worries over continued rate hikes persisted.
The Dow Jones Industrials shed 96.75 points to 33,684.73, putting it on pace for its worst week since September.
The S&P 500 dropped 6.16 points to 3,957.35
The NASDAQ shed 20.77 points to 11,061.24.
The Dow is off by 2% this week, while the S&P 500 has fallen 2.7%. The NASDAQ has lost 3.4%.
Friday's moves came as November's producer price index showed higher-than-expected wholesale prices, which rose 0.3% last month and 7.4% over the previous year. That topped the 0.2% gain expected by economists polled by Dow Jones. Core PPI, which excludes food and energy, rose 0.4%, beating an estimate of 0.2%.
Shares of Lululemon fell after the company gave a weaker-than-expected fourth-quarter outlook. Bath & Body Works' stock gained as Dan Loeb revealed a boost in his stake.
Prices for the 10-year Treasury fell, raising yields to 3.55% from Thursday's 3.49%. Treasury prices and yields move in opposite directions.
Oil prices moved up 70 cents to $72.16 U.S. a barrel.
Gold prices progressed $8.20 to $1,809.70 U.S. an ounce.