The S&P 500 settled lower on Friday after data showed U.S. consumer sentiment declined to a six-month low level in May.
The University of Michigan consumer sentiment dropped to 57.7 in May from 63.5 in the prior month.
Tesla, Inc. (NASDAQ:TSLA) shares dropped 2.4% on Friday amid volatility in the stock after Elon Musk announced a new CEO of Twitter.
News Corp (NASDAQ:NWSA) shares gained more than 8% on Friday after the company reported third-quarter financial results.
Major sectors on S&P 500 closed on a mixed note, with utilities and consumer staples stocks recording the biggest gains on Friday. However, consumer discretionary and financial stocks closed lower during the session.
The Nasdaq 100 fell 0.37% to close at 13,340.18 on Friday, amid gains in shares of Amazon.com, Inc. (NASDAQ:AMZN) and Tesla Inc (NASDAQ:TSLA).
The S&P 500 fell 0.16%, while the Dow Jones lost 0.03% to 33,300.62 in the previous session. For the week, the Dow fell 1.1%, while the S&P 500 lost 0.3%.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 0.6% to close at 17.03 on Friday.
What is CBOE Volatility Index?
The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market’s expectation of volatility based on S&P 500 index call and put options.
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