The S&P 500 ended marginally lower in a choppy session on Friday, but major indexes posted weekly gains for the first time in December following a wild few days of trading that saw equities rebound from a prolonged slide.
Major indexes moved in and out of positive territory during the day, action that was emblematic of recent volatility though lacking the huge swings of the past week. The Dow finished modestly lower, while the Nasdaq eked out a slight gain.
With the year coming to an end, investors will be watching key US economic reports next week, including on manufacturing and employment.
"It's just maybe nervousness ... with another short week coming up," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "There's a lot of potential for moves one way or the other. We have got a lot of data coming in next week."
Thursday's trading was marked by a stunning reversal late in the session to build on a rally that started on Wednesday with the biggest single-day percentage gains for the indexes in nearly a decade.
The week started off with Wall Street's worst-ever Christmas Eve drop, pushing the S&P 500 to within a whisker of bear market territory.
No comments