U.S. stocks close mostly lower with tech; dollar up after factory data

 U.S. stocks close mostly lower with tech; dollar up after factory data

NEW YORK (Reuters) – U.S. stocks ended mostly lower on Friday, weighed down by technology and consumer discretionary shares, while the dollar edged higher after stronger-than-expected U.S. manufacturing data.

FILE PHOTO: A man looks at stock market monitors in Taipei January 22, 2008. REUTERS/Nicky Loh

U.S. Treasury yields slipped as the market mostly shrugged off the data.

Data firm IHS Markit said its flash U.S. manufacturing PMI increased to 61.5 in the first half of this month. That was the highest reading since October 2009, and followed a final reading of 60.5 in April. Economists polled by Reuters had forecast the index dipping to 60.2 in early May.

Rising U.S. inflationary risks have spooked markets, and minutes on Wednesday from the last Federal Reserve meeting suggested some policymakers were ready to talk about reducing stimulus by tapering bond purchases.

On Friday, Philadelphia Fed Bank President Patrick Harker said Fed…

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