Major U.S. stock indexes inched lower in morning trading Friday, giving back some of their gains from a day before. Investors were weighing new data on U.S. manufacturing and the latest corporate earnings news. Financial stocks were among the biggest decliners.
KEEPING SCORE: The Dow Jones industrial average fell 16 points to 18,234 as of 11:29 a.m. Eastern time. The Standard & Poor’s 500 index fell less two point, or 0.1 percent, to 2,118. The Nasdaq composite declined eight points, or 0.2 percent, to 5,042.
THE QUOTE: “This week, on balance, the economic reports have been a little soggy,” said Bob Doll, chief equity strategist at Nuveen Asset Management. “We’re muddling through and the market is just fine with that.”
SECTOR VIEW: Half of the 10 sectors in the S&P 500 index rose, led by utilities stocks. Netflix notched the biggest gain among stocks in the index. It added $28.02, or 4.8 percent, to $614.76.
UNAPPETIZING OUTLOOK: El Pollo Loco Holdings tumbled 13.4 percent after the restaurant operator reported better-than-expected financial results, but disappointed Wall street with a cautious outlook. The stock lost $3.89 to $25.17.