U.S. stocks posted weekly loss in the week ending June 29 as investors digested a batch of major economic data as well as recent corporate news.

For the week, the Dow Jones Industrial Average fell 1.2 percent, the S&P 500 lost 1.3 percent, and the Nasdaq fell 2.4 percent. For the first half of the year, the Dow was down 1.8 percent, the S&P 500 was up 1.7 percent, and the Nasdaq was up 8.8 percent.

On the economic front, U.S. personal income increased 60 billion U.S. dollars, or 0.4 percent, in May, according to estimates released by the Commerce Department on Friday. Disposable personal income increased 63.2 billion dollars, or 0.4 percent, while personal consumption expenditures increased 27.8 billion dollars, or 0.2 percent.

The U.S. economy slowed more than previously estimated in the first quarter, weighed down by the weakest consumer spending in nearly five years.

The real gross domestic product (GDP) increased at an annual rate of 2 percent in the first quarter of 2018, the Commerce Department said in its third estimate released on Thursday.

Meanwhile, in the week ending June 23, the advance figure for seasonally adjusted initial claims was 227,000, an increase of 9,000 from the previous week's unrevised level of 218,000, said the Labor Department on Thursday.

The four-week moving average was 222,000, an increase of 1,000 from the previous week's unrevised average of 221,000.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.4-percent annual gain in April, down from 6.5-percent in the previous month, according to a newly released report by S&P Dow Jones Indices.

Meanwhile, the U.S. consumer confidence index dropped to 126.4 in June from a revised 128.8 in May, the Conference Board reported Tuesday. The reading was lower than market consensus.

In corporate news, bank shares moved higher after announcing buybacks and dividend hikes following the Federal Reserve's annual stress test. Shares of Wells Fargo jumped 3.37 percent on Friday.

Nike shares soared 11.13 percent Friday after reporting quarterly earnings and revenue that beat expectations.

On Wednesday, shares of General Electric surged 4.6 percent after the company revealed a plan to spin off its healthcare business and sell its stake in Baker Hughes.

Tuesday marked the first time since 1907 that the Dow Jones Industrial Average traded without GE as a member. Walgreens Boots Alliance, a national retail drug store chain, replaced it on the index.

Wall Street continued to keep an eye on the trade tensions between Washington and its key trade partners as uncertainties remain, experts noted.