Wall Street Falls; Winning Streak in Jeopardy

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The broad S&P 500 advanced for the fifth day in a row as Wall Street tacks on more year-to-date gains.

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As of 3:00 p.m. ET, the Dow Jones Industrial Average fell 5.3 points, or 0.03%, to 16475, the S&P 500 declined 1.2 points, or 0.07%, to 1841 and the Nasdaq Composite dipped 12.7 points, or 0.3%, to 4154.

Up, up and away. 

That's Wall Street's anthem as the blockbuster year comes to a close. The Dow closed at its 50th all-time high Thursday, while the S&P 500 notched 44th record close. Both stock-market indexes are up more than 25% on a year-to-date basis in what would be their best years since 1996 and 1997, respectively.

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Still, the markets fell mildly in mid-day trade Friday, putting a the S&P 500 at risk of ending its four-day winning streak. 

One place that hasn't seen buying is Treasury bonds, which have slumped in recent days, pushing yields higher. Indeed, the yield on the benchmark 10-year bond climbed to 3.011% -- the highest level since July 2011, according to Reuters. 

The economic docket is bare on the day. 

In corporate news, General Motors (GM) said it would recall 1.5 million vehicles in China over safety concerns. Analysts at Macquarie cut Twitter (TWTR) to "underperform" from "neutral." 

In commodities, U.S. crude oil futures climbed 8 cents, or 0.08%, to $99.63 a barrel. Wholesale New York Harbor gasoline dipped 0.44% to $2.801 a gallon. Gold fell $1.10, or 0.09%, to $1,211 a troy ounce. 


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