Stocks fluctuated on Friday. The Dow lost 76 points to 23,062 while the S&P 500 slipped 3 points to 2,485. The Nasdaq Composite eked out a 5 point gain to finish at 6,584.
The major averages toggled between gains and losses throughout the session, capping a wild week on Wall Street. The S&P 500 was able to eke out a weekly gain of 2.8%, which snapped a three-week slump. The Dow gained 2.7% on the week, while the Nasdaq outperformed with an increase of nearly 4%. Despite the weekly advance, the S&P 500 is still on pace to post its worst December performance since 1931, and its first annual loss since 2015.
Nine of 11 S&P 500 sectors declined on the session. Consumer Discretionary shares outperformed, with Amazon adding 1.1% to $1478.02. Tesla shares rallied 5.6% to $333.87 after naming two new board members as part of an SEC settlement. Energy stocks lagged, despite WTI crude adding 1.6% to $45.33/barrel.
Breadth was positive on issues by 5:4 on the NYSE and 15:7 on the Nasdaq. Composite NYSE volume was a light 3.7 billion shares.
On the data front, a report showed pending home sales unexpectedly dipped 0.7% in November. A separate report showed manufacturing activity in the Chicago Fed region eased slightly in December after touching an 11-month high the prior month. Treasuries strengthened as the session wore on, with the yield on the 10-year note falling six basis points to 2.72%. The U.S. dollar was slightly weaker, while gold was essentially unchanged.