Stocks settled lower Friday, as investors unpacked a higher-than-expected jump in import prices and a six-month low for the University of Michigan’s consumer sentiment index. A sharp rise in five-year inflation expectations and the embattled banking sector also weighed on sentiment, though the major indexes settled far off their session lows.

The Dow shed 8 points and logged a fifth-straight loss, making this its longest losing streak since March. The S&P 500 joined the blue-chip index for a second consecutive week in the red, after marking a daily dip of its own. The Nasdaq settled lower on the day as well but managed to eke out a win for the week. 

GOLD, OIL PRICES REGISTER WEEKLY LOSSES

Oil prices settled lower on Friday, and marked a nearly 2% weekly loss. Recession fears, jobless claims, overseas troubles, and U.S. crude inventories all contributed to black gold's dismal performance. For the session, June-dated crude shed 83 cents, or 1.2%, to close at $70.04 per barrel.

Gold prices finished modestly lower for the week, shedding 0.3% as the U.S. dollar continued to gather strength and investors looked away from the safe-haven commodity. On the day, June-dated gold lost 70 cents, or less than 0.1%, to close at $2,019.80 an ounce.

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