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NEW YORK (AP) -- Stocks are drifting Friday, keeping Wall Street on track for its first losing week in the last three.
The S&P 500 was 0.1% higher in afternoon trading following three straight days of declines. The Dow Jones Industrial Average was up 44 points, or 0.1%, at 34,545, as of 2:40 p.m. Eastern time, and the Nasdaq composite was 0.1% higher.
Stocks have been under pressure this week because of worries that a too-warm economy will push the Federal Reserve to keep interest rates high for longer. Traders have called off some bets for the Fed to cut interest rates next year, after reports showed the U.S. economy remains resilient despite much higher rates and struggles for other economies around the world.
Such worries have pushed yields higher in the bond market, which hurts stock prices. But yields were holding relatively steady on Friday, helping to keep Wall Street quiet.
The yield on the 10-year Treasury inched up to 4.26% from 4.25% late Thursday. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose to 4.96% from 4.95%.
Companies are basically done with reporting their earnings results for the spring, but a few on Friday were making some of the largest moves.
Smith & Wesson Brands jumped 11.9% after the gun maker reported stronger results for the three months through July than analysts expected. The summer is usually a lean season for the company, but its sales rose 35% from a year earlier.
Kroger was 4.3% higher after swinging between gains and losses following its earnings report. The grocer's results for the latest quarter topped analysts' expectations, but its revenue fell short of expectations.
The company announced with Albertsons an agreement to sell some stores, private-label brands and other assets as they try to get approval from regulators for their proposed merger. Kroger also announced an agreement where it would pay more than $1.2 billion to settle the majority of claims related to opioids that could be brought against it by states, subdivisions and Native American tribes.
The upcoming week could be a busier one for markets globally. The centerpiece is likely the latest monthly update on inflation in the United States, due on Wednesday. Economists expect it to show prices at the consumer level were 3.6% higher in August than a year earlier.
Inflation has been generally coming down since peaking above 9% last summer, but the worry is the last bit of improvement to get to the Fed's 2% target may prove the most difficult. That's why strong economic reports recently have unsettled the market. They could be providing fuel for U.S. households to keep spending, which encourages companies to try to push prices up further.