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The S&P 500 slid on Friday after a record-setting session, though the benchmark is still on pace for its third consecutive weekly advance.
The Dow Jones Industrials retreated 107.46 points Friday to end the week at 53,723.53.
The much-broader index dipped 13.26 points to 7,785.73.
The NASDAQ Composite weakened 73.86 points to 26,729.16.
The S&P 500 was headed for its third straight weekly advance, gaining 0.3% in the period. The NASDAQ, however, was on pace for a 0.1% decline, while the Dow is down 0.6% week to date.
This has been a record-setting week for the S&P 500, with the index on Thursday crossing 7,800 for the first time after hitting an intraday all-time high of 7,816.70. The benchmark also closed at a record in the prior trading day.
Applied Materials was a sore spot in the session, as shares dropped more than 4% in the session.
Because the bulk of earnings season is over, with few key reports remaining such as Nvidia and Broadcom, experts noted there’s no longer a major catalyst, except for those quarterly results and if the Strait of Hormuz were to reopen.
Prices for the 10-year Treasury popped, boosting yields to 4.69% from Thursday’s 4.64%. Treasury prices and yields move in opposite directions.
Oil prices surged $1.05 to $82.30 U.S. a barrel.
Gold prices climbed $12.90 to $4,433.20 U.S. an ounce.
