Wall Street took a breather on Friday, snapping its five-day winning streak. The S&P 500 and Dow ended the day flat, pulled down by energy shares, as investors booked profits and positioned themselves ahead of earnings season that begins next week.
Bruderman Brothers CEO Oliver Pursche:
SOUNDBITE: BRUDERMAN BROTHERS CEO OLIVER PURSCHE, (ENGLISH) SAYING:
"I think investors are getting increasingly nervous about the government shutdown and how long that might last and what that economic impact looks like. Let's not forget it goes way beyond the 850,000 or so government workers. We're talking about parks. We're talking about travel. There are stories about TSA personnel resigning and looking for new jobs so there's potentially a big impact if this thing lasts much longer."
Energy stocks like Marathon Petroleum fell along with oil prices and led the downturn.
General Motors surged. The automaker said it expects per share earnings last year to surpass prior estimates. And it forecast upbeat profit for this year. That bullish outlook rubbed off on Ford's shares.
Netflix shares rose after Credit Suisse raised its estimates for quarterly subscriber additions ahead of the video streaming company's earnings report next week.
In Europe the major markets closed lower as enthusiasm over the U.S.-China trade talks waned.