US stocks fell on Friday, snapping a four-week winning streak after disappointing consumer sentiment data fueled concerns about the strength of an economic recovery.
The Dow Jones industrial average lost 77 points to 9,321. The S&P500 Index fell 9 points to 1,004 and the NASDAQ dropped 24 points to 1,986.
In economic news: The Reuters/University of Michigan Consumer Confidence Index fell to 63.2 in August from 66 in July. Many analysts had been expecting a rise in the index to 68.5. The data shows that investors are growing more concerned about the health of consumer spending, which accounts for about two-thirds of the US economy.
In company news:Boeing (NYSE:BA) shares fell 3.75% to $44.87 and was the top drag on the Dow Jones Industrial Average after the aerospace company said an Italian supplier ceased production in June on two sections of Boeing's long-delayed 787 Dreamliner planes because of structural flaws.
Abercrombie & Fitch (NYSE:ANF) shares added 3.91% to $34.25 after it reported second-quarter results and said its international growth plans remained on track.
JC Penney (NYSE:JCP) shares fell 6.15% to $31.29 after the department store signaled that its full-year results could fall short of expectations.
Amgen (NASDAQ:AMGN) shares remained steady at $60.85. The company's bone drug got a partial endorsement from the Food and Drug Administration. Later, Citigroup downgraded the company to "hold" from "buy."
Checking the NASDAQ Top 100: The standout performer overnight was Autodesk which added 4.88% to $25.38. While Verisign and Activision Blizzard also closed stronger. The worst performing stock was Garmin which fell 6.63% to $28.72. While Wynn Resorts and Joy Global also lost ground overnight.
