November 29, 2013
U.S. stocks closed mostly lower on Friday, pulling back from Wednesday’s record levels, but still achieved gains for the week and month.
The main indexes spent most of the shortened, post-Thanksgiving session in positive territory after upbeat reports on holiday shopping, but then erased their intraday gains in the final minutes of trading.
Investors shouldn’t read too much into Friday’s weak finish, said Quincy Krosby, a market strategist at Prudential Financial. She noted the S&P 500 SPX -0.08% and Dow Jones Industrial Average DJIA -0.07% held comfortably above their milestone levels of 1,800 and 16,000, respectively, plus trading volumes were low.