Stocks Head for Winning Week Despite Friday Decline

Stocks fell Friday, but Wall Street is heading for a winning week.

The 30-stock index skidded 102.23 points to begin Friday at 34,804.64.

The S&P 500 index sank 26.35 points to 4,478.75.

The NASDAQ index plunged 134.63 points to 13,791.53.

The newly debuted Arm Holdings traded 6% higher. Adobe fell more than 3% even after posting better-than-expected quarterly results. Lennar slid more than 4% despite a top-and-bottom line beat.

Auto stocks Ford Motor, General Motors and Stellantis N.V. were higher Friday. Thousands of members of the United Auto Workers went on strike after failing to reach a deal with the automakers Thursday night.

Stocks are headed for a winning week, with the Dow on pace for a near-1% gain and its second positive week in three. The S&P has progressed 1.1%, and the NASDAQ has jumped about 1.2%, putting them on track for their third positive weeks in four.

Prices for the 10-year Treasury declined, raising yields to 4.32% from Thursday’s 4.29%. Treasury prices and yields move in opposite directions.

Oil prices eked up six cents to $90.22 U.S. a barrel.

Gold prices shone brighter $17.50 to $1,950.30 U.S. an ounce.