Stocks drifted lower on Wall Street, erasing the S&P 500’s gains for the week.
The S&P 500 slipped 0.4 percent Friday, but remains close to the record high it set last week. The Nasdaq composite fell 0.7 percent and the Dow slipped 0.1 percent.
Nike dropped 20 percent 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 percent, to 5,460.48.
The Dow Jones Industrial Average fell 45.20 points, or 0.1 percent, to 39,118.86.
The Nasdaq composite fell 126.08 points, or 0.7 percent, to 17,732.60.
The Russell 2000 index of smaller companies rose 9.35 points, or 0.5 percent, to 2,047.69.
For the week:
The S&P 500 is down 4.14 points, or 0.1 percent.
The Dow is down 31.47 points, or 0.1 percent.
The Nasdaq is up 43.24 points, or 0.2 percent.
The Russell 2000 is up 25.66 points, or 1.3 percent.
For the year:
The S&P 500 is up 690.65 points, or 14.5 percent.
The Dow is up 1,429.32 points, or 3.8 percent.
The Nasdaq is up 2,721.25 points, or 18.1 percent.
The Russell 2000 is up 20.62 points, or 1 percent.
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