Stocks fluctuated Friday afternoon, taking some of the edge off a positive week driven by optimism following the Fed's initiative.
The indices are recording large weekly gains. The Dow closed at a record high on Thursday, helped by dovish messaging from the Federal Reserve on Wednesday. However, on Friday afternoon they were slightly in the red for the session.
The benchmark 10-year Treasury yield was little changed, below 4% for the second day in a row.
Early afternoon action:
The major indices were mixed. The technology-heavy Nasdaq remained almost unchanged. The Dow Industrials and the S&P 500 fell slightly.
Government bond yields remained below 4%. The benchmark 10-year Treasury yield was little changed after settling below 4% on Thursday for the first time since July.
The US PMIs showed a growing services economy. The S&P flash U.S. services purchasing managers' index rose to a five-month high of 51.3 in November, up from 50.8 the previous month. The manufacturing purchasing managers' index fell to a four-month low.
Costco recovered. The wholesaler rose 4% after reporting earnings that beat expectations. Boeing shares rose for the eighth straight day.
European national debt rose. Yields in Germany and Italy fell after surveys of euro zone economic activity fell short of expectations. The Stoxx 600 index rose to a new 52-week high.
Stocks in Asia were mixed. Hong Kong's Hang Seng Index rose 2.4% even as stocks in mainland China fell.
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