OPEC June Oil Output Falls 100,000 Barrels/Day From May To 28.52M; OPEC States’ Compliance With OPEC+ Output Cut Pledges Rises To 253% In June From 178% In May

U.S. stocks closed sharply lower on Friday, as higher-than-expected inflation data resulted in losses for the third quarter. Recent personal consumption expenditures (PCE) price index data showed an increase of 0.3% for August after declining 0.1% in the previous month. It was the third weekly drop in a row for the S&P 500 and the Dow Jones.