The SPDR Portfolio S&P 500 Growth ETF (SPYG) closed at $92.02, down 0.38% from its previous close of $92.37, as of 16:20 on Friday, January 24. The decline in the S&P 500 was influenced by rising inflation concerns, as the University of Michigan's consumer sentiment data showed an increase in year-ahead inflation expectations to 3.3% in January from 2.8% in December. This heightened inflationary pressure has led to speculation about the Federal Reserve's next moves, with the upcoming FOMC meeting on January 29 being closely watched. Additionally, the technology sector, a significant component of the S&P 500, faced headwinds after Texas Instruments issued disappointing guidance, causing its shares to drop 7.5% and dragging down other chipmakers like Microchip Technology and Analog Devices. The broader market sentiment was also affected by President Donald Trump's comments at the World Economic Forum in Davos, where he called for immediate interest rate cuts, adding to the uncertainty surrounding monetary policy.