Stocks finished mixed on Friday as the S&P 500 and Dow Jones Industrial Average rallied to all-time highs and the Nasdaq Composite snapped its 10-day streak of closing in record territory.
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Despite Friday's mixed session, all three of the major indexes remain on track for Santa Claus rallies. The term is used on Wall Street to refer to gains made on the last five trading days of the year and the first two of the following year. So far, the S&P 500 has added 0.5 percent during the period while the Dow and Nasdaq have climbed 0.3 percent and 0.7 percent, respectively.
|I:DJI||DOW JONES AVERAGES||26519.95||-943.24||-3.43%|
|I:COMP||NASDAQ COMPOSITE INDEX||11004.868219||-426.48||-3.73%|
Tesla shares rallied early Friday after the electric-car maker said the first Model 3 sedans produced at its Shanghai Gigafactory would be delivered on Monday, but gave up those gains after Citron Research said it wouldn't be a buyer until the stock was $100 lower.
Meanwhile, Apple ended its three-day winning streak as shares fight to close out 2019 with their biggest annual gain in a decade. The stock is up 83.8 percent year-to-date with only two trading days left in 2019.
Boeing shares were flat after the planemaker said general counsel Mike Luttig will retire next week. Luttig, who was a close adviser to former CEO Dennis Muilenburg, worked at Boeing for more than 13 years.
Anixter International rallied as Wesco International raised its bid for the networking and electrical systems provider to $93.50 a share in cash and stock. The offer comes after private-equity firm Clayton Dubilier & Rice agreed to buy the company for $86.50 a share.
Elsewhere, Rite Aid squeezed higher for a sixth straight day following the company's better-than-expected third-quarter results. Shares had gained 150 percent over the last five sessions.
Commodities were mixed with gold up 0.2 percent at $1,517 an ounce and West Texas Intermediate crude oil down 0.1 percent at $61.65 a barrel.
U.S. Treasurys gained, pushing the yield on the 10-year note down 3 basis points to 1.875 percent.
Trading in Europe resumed on Friday following the Boxing Day holiday. Germany's DAX rose 0.3 percent, France's CAC gained 0.1 percent and London's FTSE added 0.2 percent.
In Asia, the Shanghai Composite Index was off 0.1 percent, Tokyo's Nikkei fell 0.4 percent and Hong Kong's Hang Seng gained 1.3 percent.
FOX Business' Ken Martin and The Associated Press has contributed to this article.