#stocks

U.S. stock indices closed lower on Friday, weighed down by macroeconomic headwinds. The S&P 500 fell 0.2% from its record high, while the Dow lost 108 points and the Nasdaq 100 dropped 0.1%. The University of Michigan’s August preliminary sentiment index fell to 51, below the expected 55. Meanwhile, retail sales experienced their biggest drop in over a year in July. The data, coupled with weak employment figures and soft inflation, suggested the economy is showing signs of cooling. The slowdown in consumer spending could put pressure on corporate profits and the stock market. Hyperscalers like Meta (-0.9%), Oracle (-3.7%), and Amazon (-0.9%) saw losses. Heavyweight chipmakers closed mixed; Broadcom fell 5.9%, Intel lost 2%, and Nvidia edged lower, while AMD (+6.5%) and memory makers extended their strong gains from earlier in the week. Micron rose 2.3% on positive recommendations from analysts and brokers, while SanDisk climbed 7.4% after a 14% increase on Thursday.