Stocks drifted lower on Wall Street, erasing the S&P 500’s gains for the week.
The S&P 500 slipped 0.4% Friday, but remains close to the record high it set last week. The Nasdaq composite fell 0.7% and the Dow slipped 0.1%.
Nike dropped 20% after the shoe and athletic wear company missed Wall Street’s revenue targets and cut its full-year sales guidance. Company executives said they expect sales to decline by single digits in the current fiscal year, citing a “challenging” environment.
On Friday:
The S&P 500 fell 22.39 points, or 0.4%, to 5,460.48.
The Dow Jones Industrial Average fell 45.20 points, or 0.1%, to 39,118.86.
The Nasdaq composite fell 126.08 points, or 0.7%, to 17,732.60.
The Russell 2000 index of smaller companies rose 9.35 points, or 0.5%, to 2,047.69.
For the week:
The S&P 500 is down 4.14 points, or 0.1%.
The Dow is down 31.47 points, or 0.1%.
The Nasdaq is up 43.24 points, or 0.2%.
The Russell 2000 is up 25.66 points, or 1.3%.
For the year:
The S&P 500 is up 690.65 points, or 14.5%.
The Dow is up 1,429.32 points, or 3.8%.
The Nasdaq is up 2,721.25 points, or 18.1%.
The Russell 2000 is up 20.62 points, or 1%.
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