On Friday, the S&P 500 ended a series of four consecutive record closings, dipping slightly lower, while the Dow fell by 57 points and the Nasdaq added 0.1%, extending its series of record closings to five. Market sentiment was dampened by an unexpected drop in the Michigan consumer sentiment index to a seven-month low and a rise in five-year inflation expectations. Most sectors were in the red, except for the technology and communication services sectors, which saw a slight increase. In corporate news, shares of luxury retailer RH fell 17.2% after reporting a significantly larger-than-expected loss for the first quarter. Stellantis shares dropped 4.2% following comments from the CEO about addressing "arrogant" mistakes in the U.S. that led to sales declines and inventory issues. Conversely, Adobe shares rose 14.5% after raising its full-year forecast, and Broadcom shares increased by 3.3%, marking a record weekly gain of 23%. For the week, the S&P 500 rose 1.8%, the Nasdaq gained 3.6%, and the Dow Jones fell 0.6%.