US stocks dip amid persistent volatility

·1-min read

Wall Street stocks dipped early Friday in the final session of a volatile week during which generally better US economic data countered lingering worries over Covid-19 and monetary policy.

Major indices are slighty higher for the week after data released in recent days showed moderating consumer inflation and better-than-expected retail sales.

Investors have weighed those reports against rising worries over supply chain problems and ongoing fears of the hit from Covid-19 to the global economy, together with uncertainty over an expected Federal Reserve move to soon taper stimulus spending.

About 15 minutes into trading, the Dow Jones Industrial Average was essentially flat at 34,755.74.

The broad-based S&P 500 declined 0.2 percent to 4,465.56, while the tech-rich Nasdaq Composite Index dropped 0.3 percent to 15,134.53.

Analysts said the market is watching for developments on President Joe Biden's ambitious agenda for infrastructure and social spending, as well as a vote Friday by US regulators on Pfizer's proposal to provide booster shots of Covid-19 vaccines to the general public.

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