Dow Jones, Nasdaq open lower; Arm stock highs

A decline in technology companies weighed on the broader market on Friday, paring gains in major indexes for the week.

Investors are weighing new data showing consumer sentiment falling more than expected this month, and eyeing the Federal Reserve’s policy decision next week.

Overseas, factory output and consumer spending improved in China last month and unemployment fell further. The Chinese central bank reduced the short-term lending rate, in another step to support the country’s recovery.

Stocks fell. The Nasdaq Composite Index led indices lower.

“Triple Magic” It could add to the market drama on Friday, as many futures and options contracts expire.

The arm went up. The chip designer has soared after its debut on a volatile stock market.

Automakers are mixed. Shares of General Motors, Ford and Stellantis were split between modest gains and losses after the United Auto Workers went on strike at the companies.

Adobe Stocks were among the biggest losers in the S&P 500 after earnings disappointed investors.

Oil continued to rise. The most actively traded Brent crude contract rose above $94, heading toward its highest close since November.

Treasuries remained steady. The yield on 10-year Treasury bonds rose to 4.319%, after settling at 4.289% on Thursday.

Today in the history of markets: The collapse of Lehman led to the outbreak of the financial crisis in 2008.

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