Wall Street Falls; Winning Streak in Jeopardy

MarketsFOXBusiness

FOX Business: Capitalism Lives Here

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

Continue Reading Below

Today's Markets

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.

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 (NYSE:GM) said it would recall 1.5 million vehicles in China over safety concerns. Analysts at Macquarie cut Twitter (NYSE: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.

What do you think?

Click the button below to comment on this article.