The S&P 500 bounced around the flatline Friday in another volatile trading session, leaving the broad index at risk of falling for a second consecutive week.
Technology and other growth stocks relinquished their earlier gains around midday, the same time bitcoin turned lower. The cryptocurrency was hit yet again on a statement from Chinese authorities that called for a crackdown on mining and trading. Gains across financial, energy and industrial stocks helped stabilize the S&P 500, leaving the index up 0.1%.
The Dow Jones Industrial Average maintained a modest gain, rising about 165 points, or 0.5%, while the Nasdaq Composite fell 0.3%.
Friday’s lackluster performance leaves the S&P 500 down 0.3% over the past five trading days, marking another turbulent week of trading. The Dow, meanwhile, cut its loss for the week to 0.4% and the Nasdaq remained up 0.6%, on track for its first weekly gain out of the past five.