US benchmark equity indexes were lower ahead of Friday's close as traders assessed the latest reading of the Federal Reserve's preferred inflation metric, as well as corporate earnings.
The Dow Jones Industrial Average was down 0.8% at 44,519.7, while the S&P 500 fell 0.6% to 6,033.1. The Nasdaq Composite lost 0.5% to 19,579.3. Barring communication services, all sectors were lower, led by energy.
Official data showed that US consumer spending growth accelerated at the end of 2024, while the Fed's preferred inflation gauge held steady at the annual level.
The US 10-year yield was up 6.9 basis points at 4.58%, while the two-year rate added 3.9 basis points to 4.24%.
Shares of Deckers Outdoor (DECK) slumped after the company reported its latest quarterly financial results, while Atlassian (TEAM) and AbbVie (ABBV) surged.
West Texas Intermediate crude oil was down 0.3% at $72.48 a barrel.
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