Late slide erases early gains, leav­ing stock in­dexes mixed

San Francisco Chronicle - - BUSINESS - By Alex Veiga Alex Veiga is an As­so­ci­ated Press writer.

Wall Street closed out a choppy week of trad­ing with more of the same Fri­day, as a lateafter­noon stum­ble led U.S. stock in­dexes to a mixed fin­ish.

The S&P 500 ended the day just a frac­tion of a point higher af­ter a burst of sell­ing erased a 0.9% gain. De­spite a three­day stretch of losses, the bench­mark in­dex still man­aged to fin­ish higher for the week, its third straight weekly gain.

Big Tech and en­ergy com­pa­nies fell while health care and in­dus­trial stocks rose. The Dow Jones in­dus­trial av­er­age also eked out a gain, while the Nas­daq com­pos­ite posted its fourth straight loss. Trea­sury yields were flat.

The mar­ket had been up for much of the day af­ter the govern­ment re­ported that re­tail sales rose in Septem­ber for the fifth straight month. That re­port ap­peared to over­shadow new data showed U.S. in­dus­trial pro­duc­tion had its weak­est show­ing last month since the spring.

The mar­ket’s late­day fade capped a week of volatil­ity for stocks as com­pa­nies be­gan re­port­ing their thirdquar­ter re­sults and traders’ hopes for a new round of eco­nomic stim­u­lus from Wash­ing­ton dimmed.

“The mar­ket is sort of bounc­ing around here,” said Tom Martin, se­nior port­fo­lio man­ager with

Glob­alt In­vest­ments. “We’ve had a lot of noise lately and that’s prob­a­bly what we’re go­ing to have over the next cou­ple of weeks.”

The S&P 500 rose 0.47 points to 3,483.81. The Dow gained 112.11 points, or 0.4%, to 28,606.31. At one point, it had been up by 348 points. The Nas­daq fell 42.32 points, or 0.4%, to 11,671.56. The Rus­sell 2000 in­dex of small­cap stocks dropped 5.08 points, or 0.3%, to 1,633.81.

De­spite the mar­ket’s down­beat fin­ish, the ma­jor stock in­dexes have al­ready re­couped most of their losses from Septem­ber’s mar­ket swoon.

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