The latest consumer sentiment data showed near-term inflation expectations rose to their highest level since November 2023.

The losses on Friday resulted in the major indexes closing the week in negative territory. The Dow snapped a three-week winning streak, ending 0.54% lower. The S&P 500 declined 0.24%, and the Nasdaq fell 0.

U.S. stock indexes are drifting lower on Friday after a discouraging report suggested U.S. consumers are bracing for higher inflation over the next year. The S&P 500 was 0.3% lower in morning trading,

U.S. stocks are falling Friday after a discouraging report suggested U.S. consumers are bracing for much higher inflation, while a separate update gave a mixed picture of the U.S. job market.