NEW YORK — U.S. stocks drifted to a mixed close as caution crept into financial markets heading into the weekend. The S&P 500 slipped less than 0.1% Friday after setting an all-time high every other day this week. The Dow Jones Industrial Average fell 0.1%, while the Nasdaq composite edged up 0.1%, marking another all-time high. Losses were sharper across the Atlantic, where European stocks have been rocked by the results of recent elections on the continent.
France’s CAC 40 fell 2.7% to bring its loss for the week to 6.2%, its worst in more than two years. Germany’s DAX lost 1.4%. Cruise-ship operators were among the market's biggest losers after analysts at Bank of America flagged softening price trends for trips. Norwegian Cruise Line dropped 7.5% for the worst loss in the S&P 500, and Carnival fell 7.4%.
Solid spending by U.S. households has been one of the main engines keeping the economy out of a recession, but “assessments of personal finances dipped, due to modestly rising concerns over high prices as well as weakening incomes,” according to Joanne Hsu, director of the Surveys of Consumers.
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