NEW YORK — Stocks are drifting, keeping Wall Street on track to close out its first losing week in the last three. The S&P 500 was up 0.2% early Friday. The Dow was flat and the Nasdaq composite edged up 0.3%. Stocks have been under pressure this week because of worries that a too-warm economy will push the Federal Reserve to keep interest rates higher for longer. Those worries have pushed yields higher in the bond market, which hurts stock prices.
Early movers Friday include gun manufacturer Smith & Wesson, which is up 14% after it posted sales and profit that beat Wall Street forecasts. Japan, the world’s third largest economy, grew at a 4.8% annual pace in the April-June quarter, below the earlier estimate of 6% growth, according to data released Friday.
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