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US stocks wobble, heading for a 4th straight weekly loss

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KMIZ

By DAMIAN J. TROISE
AP Business Writer

Stocks wobbled in morning trading on Wall Street Friday and are still on track for another week of losses to continue a miserable opening to the year. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 0.4% and the Nasdaq was unchanged. Investors are anxiously watching as the Federal Reserve prepares to withdraw its huge economic stimulus and raise interest rates to fight inflation. Industrial stocks and banks weighed down the market, while technology and communications companies gained ground and offset losses elsewhere. Companies continued warning that supply chain problems are hurting operations. Bond yields remained stable.

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