U.S. stocks slipped on Friday as investors refrained from taking heavy positions ahead of Sunday's first-round of the presidential election in France.
"Nobody is taking anything for granted after the big swing and miss in Britain and the big swing and a miss here," Jack Ablin, chief investment officer at BMO Private Bank in Chicago, told Reuters.
The Dow Jones Industrial Average dropped 30.95 points, or 0.15%, to 20,547.76, the S&P 500 fell 7 points, or 0.30%, to 2,348.69 and the Nasdaq Composite lost 6.26 points, or 0.11%, to 5,910.52. On a weekly basis, however, after three consecutive weeks of losses, three major indexes were able to record gains amid positive earning reports from big corporations. The Dow advanced 0.5%, while the S&P rose 0.8% and the Nasdaq gained 1.8%.
Headlines from the U.S. session
- U.S. President Trump's tax plan likely will not include border-adjusted tax - BBG
- When is the French presidential election and how could affect the EUR?
- Trump will unveil tax plan next week, includes "massive" tax cut - AP
- Overall compliance with oil output curbs at 98 pct in March - Reuters
- Fed's Fischer: Depreciating dollar 'is of some help' to U.S. economy
- Fed's Kashkari: It's too soon to predict what tax, regulatory reforms will be