The Dow advanced 18, the S&P edged up a point and the Nasdaq rose 14. U.S. stocks ended modestly lower Friday as a retreat in oil prices weighed on energy shares ahead of a meeting of major oil producers slated for Sunday. But despite the daily drop, the three main indexes posted weekly gains. The Dow ended the week 29 points lower at 17,897, the S&P slipped 2 to 2,081 and the Nasdaq lost 8 to close at 4,938.
The volatility that racked markets earlier this year is weighing on the performance of investment banks last quarter, down 36% from the first quarter of 2015.
The squeeze is on for corporate profit margins, and it doesn’t look like it is going to end soon. That doesn’t bode well for stocks.
Listen in for much more in A Wall Street Wrap-up.
