S&P 500, Nasdaq end down, investors eye Mideast
The S&P 500 and Nasdaq have ended lower, with investors on edge over the Iran-Israel conflict heading into the weekend, as the US considers whether to get involved.
Trading was choppy for much of the session on Friday.
Iran's Foreign Minister Abbas Araqchi said Tehran backed continued discussions with Germany, France, Britain and the EU and would be prepared to meet again soon following talks in Geneva.
The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate.
"Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey.
Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons.
According to preliminary data, the S&P 500 lost 12.53 points, or 0.21 per cent, to end at 5,968.34 points, while the Nasdaq Composite lost 95.27 points, or 0.49 per cent, to 19,451.01. The Dow Jones Industrial Average rose 38.47 points, or 0.09 per cent, to 42,210.13.
Investors weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer.
Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates.
Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq.
Kroger shares jumped after the grocery chain increased its annual sales growth forecast.
Shares of Accenture fell after the IT services provider said new bookings decreased in the third quarter.
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