Stocks Ended Lower, Fed Meet Eyed

U.S. stocks closed lower on Friday, erasing what would have been weekly gains, as investors stayed on the sidelines ahead of a Federal Reserve policy meeting next week and as Greek debt talks hit a stalemate. The Dow Jones Industrial Average dropped 140.53 points, or 0.78%, to 17,898.84, but over the week it eked out a 0.3% gain.The S&P 500 was down 14.75 points, or 0.70%, to 2,094.11, finishing the week roughly where it started. The Nasdaq
Composite shed 31.41 points, or 0.62%, to 5,051.10 and lost 0.3% over the week.

U.S. consumer sentiment rose more than expected in June, a survey released on Friday showed. The University of Michigan’s preliminary June reading on the overall index on consumer sentiment came in at 94.6, up from the final reading of 90.7 the month before.

General Motors Co (GM.N) will lay off 100 workers and cut production at its Orion Assembly small-car plant in suburban Detroit because of slow sales, the company said on Friday.

Wingstop, which soared in its trading debut Friday, is on track to continue expanding across the United States, its CEO said.The fast-casual restaurant chain, which specializes in chicken wings, opened 80 restaurants in the U.S.