Friday’s session ended mixed. The Dow and S&P 500 shed some points. The Nasdaq closed just slightly in the red zone. JPMorgan Chase, Cisco and Bank of America led decliners on the Dow. Moves were mixed in the wake of varied economic news. Consumer confidence is up this month. In a preliminary measure, the University of Michigan’s consumer sentiment index registered a reading of 77.8 for May, up from 76.4 in April. On another note, producer prices dipped in April. The Producer Price Index fell 0.2% last month, following an unchanged reading in March. Elsewhere, JPMorgan Chase’s credit grade was lowered one level by Fitch Ratings after the bank showed a $2 billion trading loss.
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