U.S. stocks were down at the end of the day Friday as investors continue to sell phone and utility stocks.
ON WALL STREET: At the close, the Dow Jones industrial average was down 45.1 points, about 0.2 percent, at 18,552.6. The Standard & Poor’s 500 index fell 3.2 points, about 0.1 percent, to 2,183.9. The Nasdaq composite slipped 1.8 points, about 0.03 percent, to 5,238.4.
Some of the biggest losses Friday went to phone and utility companies. They surged at the beginning of the year as the market tumbled. They’ve lagged the market during its big recovery and are falling this week, but they are still among best performing parts of the market in 2016.
OIL PRICES: The price of benchmark U.S. crude gained 25 cents to $48.47 a barrel on the New York Mercantile Exchange. In London, Brent crude, used to price international oils, lost 16 cents to $50.78 a barrel. After climbing almost 16 percent over a six-day string of gains, oil prices appeared to be stagnating. Chevron lost $1.17, or 1.1 percent, to $102.38 and Exxon Mobil retreated 93 cents, or 1 percent, to $87.98.