Major U.S. indexes were lower Friday morning, but still on track for weekly gains.
Investors are weighing fresh data showing consumer-sentiment fell more than expected this month, and looking ahead to the Fed’s policy decision next week.
Overseas, factory output and consumer spending both improved in China last month and unemployment declined further. The Chinese central bank cut a short-term lending rate, in another move to support the country’s recovery.
Stocks fell. The Nasdaq Composite led indexes lower.
“Triple witching” could add to Friday’s market drama, as many futures and options contracts expire.
Arm climbed. The chip designer’s moved higher after its volatile stock-market debut.
Auto makers mixed. Shares of GM, Ford and Stellantis were split between modest gains and losses after the United Auto Workers went on strike at the companies.
Oil kept gaining. The most actively traded contract for Brent crude edged above $94, on track for the highest close since November.
Treasury bonds held steady. The benchmark 10-year Treasury yield edged up to 4.319%, after settling at 4.289% Thursday.
Read More: Dow, Nasdaq Open Lower; Arm Stock Rallies