Stocks reversed early gains Friday to trade lower, as investors prepared to cap a holiday-shortened week marked by wild swings that still has the S&P 500 on track for its first weekly gain of December.
After opening with moderate gains, the Dow Jones Industrial Average was down 111 points, or 0.5%, at 23,027, while the S&P 500 fell 9 points, or 0.4%, to 2,480. The Nasdaq Composite dropped 36 points, or 0.5%, to 6,543. For the week, the S&P 500 and Dow were on track for a 2.6% rise, while the Nasdaq headed for a 3.4% gain.
On Thursday, the Dow industrials rose 260.37 points, or 1.1%, to end at 23,138.82, after dropping as much as 611 points to the session low. The S&P 500 also erased a sharp decline to rise 0.9% to 2,488.83. The Nasdaq Composite erased a loss of more than 3% to close up 0.4% at 6,579.49.