S&P 500, Nasdaq Finish Higher But Snap 3-week Winning Streak

U.S. stocks finished mostly higher on Friday but weekly losses for the S&P 500 and Nasdaq Composite Index suggested that an aggressive postelection rally might be running out of steam. Both indexes snapped three-week winning streaks. The S&P 500 index gained 0.9 point, or less than 0.1%, to 2,192.00, as investors favored safety plays like real estate, up 1.2%, utilities, up 0.9% and consumer staples, up 0.7%. The broad-market index ended the week 1% lower. The Dow Jones Industrial Average shed 21.30 points, or 0.1%, to 19,170.63, as Goldman Sachs Group Inc. and Caterpillar Inc. led the benchmark lower, though it ended the week up 0.1%, its fourth consecutive weekly rise. The Nasdaq Composite Index gained 4.55 points, or 0.1%, to 5,255.65, but finished down 2.7% on the week. Earlier, the Labor Department reported sanguine jobs growth numbers for November, which helped support stocks. U.S. stocks' momentum faded this week as a blistering rally that sent benchmarks to a series of record highs cooled. Treasury yields moved lower on Friday, with the 10-year [s:TMUBMUSD10Y] down 5.6 basis points at 2.395%, but finished higher for a fourth straight week.

Copyright © 2016 MarketWatch, Inc.