Wall Street Sputters, Halts Winning Streak


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After four-straight advances for the S&P 500, the broad-market barometer closed narrowly lower Friday as traders took a breather from the buying frenzy.

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Today's Markets

The Dow Jones Industrial Average fell 1.5 points, or 0.01%, to 16478, the S&P 500 declined 0.62 points, or 0.03%, to 1841 and the Nasdaq Composite dipped 10.6 points, or 0.25%, to 4157.

For the week, the Dow climbed 1.6%, the S&P 500 gained 1.3% and the Nasdaq Composite advanced 1.3%.

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 Friday, snapping the S&P 500's 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.

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