News Summary: Disappointing news lead stocks down

AP News
Posted: Jun 14, 2013 5:16 PM

GOING DOWN: Disappointing reports about the U.S. economy helped push the stock market lower on Friday. Americans' confidence in the economy weakened in June and was lower than economists had estimated, according to the Thomson Reuters/University of Michigan survey. Another report said factories weren't as busy as expected.

WAITING GAME: Concerns that the Federal Reserve could announce plans to cut back its stimulus program next Wednesday also weighed on the mood.

FINAL SCORE: The Standard & Poor's 500 index sank 9.63 points, or 0.6 percent, to 1,626.73. The Dow Jones industrial dropped 105.90 points, or 0.7 percent, to 15,070.18.