Wall Street usually ended higher on Friday after a shaky trading day. In the US, trading was subdued before Memorial Day.
Despite the mixed closing price, the major indices each recorded a weekly gain of more than 3%. The strength of technology, communications and real estate stocks helped to largely reverse the early market decline. Energy stocks fell the most as crude oil prices closed lower after six consecutive gains.
Small cap stocks did more than twice as well as the rest of the market this week, a bullish signal that indicates that investors expect the economy to be on the road to recovery.
The S&P 500 rose 6.94 points, or 0.2%, to 2,955.45.
The Dow Jones Industrial Average slipped 8.96 points, or less than 0.1%, to 24,465.16.
The Nasdaq composite added 39.71 points, or 0.4%, to 9,324.59.
The Russell 2000 index of small company stocks gained 7.97 points, or 0.6%, to 1,355.53.
For the week:
The S&P 500 rose 91.75 points, or 3.2%.
The Dow gained 779.74 points, or 3.3%.
The Nasdaq climbed 310.03 points, or 3.4%
The Russell 2000 picked up 98.54 points, or 7.8%.
For the year:
The S&P 500 is down 275.33 points, or 8.5%.
The Dow is down 4,073.28 points, or 14.3%.
The Nasdaq is up 351.98 points, or 3.9%
The Russell 2000 is down 312.94 points, or 18.8%.