Stocks are closing mostly lower on Wall Street Friday and the broad S&P 500 had its first weekly loss in the last three.
The S&P 500 slipped 0.1%. The Dow Jones Industrial Average lost 0.7%, falling for a second-straight week. The Nasdaq Composite gained 0.8%.
Bank stocks fell after the Federal Reserve announced it would end some emergency measures put in place for the industry last year to help deal with the pandemic. The yield on the 10-year U.S. Treasury edged higher. FedEx shares soared to a three-month high after the package delivery giant reported strong third-quarter earnings.
The S&P 500 fell 2.36 points, or 0.1%, to 3,913.10
The Dow Jones Industrial Average fell 234.33 points, or 0.7%, to 32,627.97.
The Nasdaq rose 99.07 points, or 0.8%, to 13,215.24.
The Russell 2000 index of smaller companies rose 19.96 points, or 0.9% to 2,287.55.
For the week:
The S&P 500 is down 30.24 points, or 0.8%.
The Dow is down 150.67 points, or 0.5%.
The Nasdaq is down 104.63 points, or 0.8%.
The Russell 2000 is down 65.24 points, or 2.8%.
For the year:
The S&P 500 is up 157.03 points, or 4.2%.
The Dow is up 2,021.49 points, or 6.6%.
The Nasdaq is up 326.95 points, or 2.5%.
The Russell 2000 is up 312.69 points, or 15.8%.