How major US stock indexes fared Friday, 6/28/2024

Stocks drifted lower on Wall Street, erasing the S&P 500’s gains for the week. The S&P 500 slipped 0.4% Friday, but remains close to the record high it set last week. The Nasdaq composite fell 0.7% and the Dow slipped 0.1%. Nike dropped 20% after the shoe and athletic wear company missed Wall Street’s revenue targets and cut its full-year sales guidance. Company executives said they expect sales to decline by single digits in the current fiscal year, citing a “challenging” environment.