Stock market today: Wall Street drifts as banks stabilize

Friday, May 5, 2023, Vol. 47, No. 19

NEW YORK (AP) — Wall Street drifted to a mixed close ahead of a week full of reports on some of the market's biggest worries, including how stubbornly high inflation remains across the economy.

The S&P 500 edged up less than 0.1%, coming off its worst week in nearly two months. The Dow Jones Industrial Average fell 55 points, or 0.2%, and the Nasdaq composite rose 0.2%.

Besides a strong reading on U.S. jobs, which calmed worries about a recession but also raised concerns about inflation, last week was dominated by fears about smaller and mid-sized banks. They stabilized Monday.