Stocks lose gains on sentiment, inflation data: Stock market news today

Stocks opened higher on Friday but had lost those gains in late morning trading after consumer sentiment data from the University of Michigan on Friday showed a noticeable increase in consumer inflation expectations.

Near 11:30 a.m. ET, the S&P 500 (^GSPC), Dow Jones Industrial Average (^DJI) and tech-heavy Nasdaq Composite (^IXIC) were each down more than 0.2%.

Through the week’s first four trading sessions, the S&P 500 had been flat, the Dow by approx. 1% and Nasdaq up by the same amount.

Ahead of the weekend, investors will continue to pay close attention to updates on the ongoing debt ceiling negotiations, with a key meeting between President Joe Biden and House Speaker Kevin McCarthy postponed until next week.