Stocks edged lower on Friday, setting Wall Street up for a weekly loss, as investors weighed the impact of hot inflation prints on the Federal Reserve's policy decision next week. The S&P 500 lost 0.5%, while the Dow Jones Industrial Average shed 0.2%. The tech-heavy Nasdaq Composite decreased 0.6%.
With no big data releases on Friday's docket, eyes are turning to the February PCE report — the Fed's preferred inflation measure — for more clarity on whether inflation is cooling as fast as it wants. But that reading won't come until near the end of March, after the central bank's policy decision next week. Meanwhile, bitcoin pulled back further from its latest record high above $73,000, trading just below $67,000 at last check.
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