Stagflation Worries Send US Stocks Lower, Oil Prices Slip

U.S. stocks are experiencing mixed results ahead of a week that could provide insight into how retailers are handling high inflation and a slowing job market.

The S&P 500 slipped 0.1% but remains near its all-time high set Thursday, while the Dow Jones Industrial Average was down 174 points or 0.3% as of 9:35 a.m. Eastern time.

The companies in the S&P 500 index are on track to deliver growth of roughly 50% for earnings per share in the spring from a year earlier, according to FactSet, with nearly all the companies already turning in their profit reports for the spring.

However, big retailers such as Home Depot, Target, and Walmart are facing pressure due to customers' incomes potentially becoming iffier after U.S. employers surprisingly cut more jobs last month than they added.