Stocks edge lower on Wall Street, head for weekly losses

By DAMIAN J. TROISE
AP Business Writer

Stocks edged lower in morning trading on Wall Street Friday, weighed down by more drops in chipmakers and other technology companies. The S&P 500 fell 0.4%, the Dow Jones Industrial Average rose 0.1% and the Nasdaq fell 1.2%. The benchmark S&P 500 remains in the red for the week following three straight weekly gains. Treasury yields continued to move higher as traders get accustomed to the Federal Reserve’s ongoing policy pivot to fighting inflation instead of stimulating the economy. The yield on the 10-year Treasury rose to 2.69%, its highest level in three years. Oil prices were relatively stable.