Stocks on Wall Street decline with conflicting data and earnings in anticipation of the Federal Reserve meeting next week.

comes down to a mix of economic and earnings news,” stated Scott Helfstein, head of investment strategy at ETF company Global X.Investors are looking ahead to a week packed with key inflation and economic growth data, as well as the Fed meeting, while keeping an eye out for updates from the Trump administration.”There is a sense of anticipation for a significant news week ahead. Additionally, there is lingering uncertainty regarding policy with the new administration’s initial week in office, which is likely to persist in the coming weeks,” he added.Concerns loom over U.S. President Donald Trump’s proposed tariffs, which could potentially worsen inflationary pressures and impede Fed rate cuts. Trump’s repeated mentions of trade policy this week without providing concrete plans have left investors on edge.Trump has hinted at possible tariffs on Mexico, Canada, China, and the European Union by February 1, with potential major announcements set for April 1.Despite the indexes closing lower on Friday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all experiencing losses, it was the second consecutive week of gains overall. The S&P 500 rose by 1.74%, the Nasdaq climbed by 1.65%, and the Dow saw an increase of 2.15%.Among the S&P 500 industry sectors, six out of eleven posted gains, with communications services leading the way with a 1.09% increase, closely followed by utilities which rose by 1.07%.The rise in utilities was largely fueled by NextEra Energy Inc, which saw a 5.2% surge and emerged as the top gainer in the S&P 500 for the day.The S&P 500 had closed at a record high on Thursday for the first time since early December following Trump’s calls for tax cuts, lower oil prices, and decreased interest rates during his appearance at the World Economic Forum in Davos, Switzerland.The technology sector, which had seen a strong rally earlier in the week, experienced the most significant decline on Friday. Chip maker Texas Instruments witnessed a sharp 7.2% drop after forecasting first-quarter profits below street estimates due to inventory buildup in key automotive and industrial markets.Other notable tech stocks that contributed to the sector’s weakness were Nvidia, Microsoft, and Tesla. Meanwhile, American Express reported a 12% increase in fourth-quarter profit, but its shares fell by 1.4%, dragging on the Dow.On a more positive note, Verizon shares rose by 0.9% after the company reported higher-than-expected quarterly subscriber additions, providing a bright spot amidst the mixed market performance.On the whole, the U.S. stock market experienced an overall increase in advancing issues compared to decliners, with the NYSE and Nasdaq both seeing more advancing stocks than declining ones.Ultimately, the market awaits next week’s significant data releases on inflation and economic growth, in addition to the Fed meeting, as investors brace themselves for potential policy updates from the new administration. The uncertainties surrounding Trump’s tariff plans and their potential impact remain a key concern moving forward.