US stocks have closed out a choppy day of trade on a negative note following a mixed batch of economic data and a big jump in bond yields.
At the closing bell on Friday, the Dow Jones Industrial Average fell 29.26 (0.19 per cent) to 15,082.93.
The broad-based S&P 500 declined 5.48 (0.33 per cent) to 1,655.84 while the tech-rich Nasdaq Composite Index slipped 3.34 (0.09 per cent) to 3,602.78.
All three indices veered in and out of positive territory throughout the day, steadying somewhat after sharp declines Thursday.
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Several analysts flagged a steep rise in Treasury bond yields for a second straight day on Friday as a worry. The yield on the 10-year Treasury rose from 2.76 per cent Thursday to 2.83 per cent.
New housing starts data showed spending up last month to an annualised pace of 896,000 units, up from 846,000 in June.
But analysts were disappointed by a consumer confidence report that showed weaker sentiment in August than July.
“The economic news were obviously mixed,” said Peter Cardillo of Rockwell Capital Management.
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