Stocks Sag into Friday Close, Second Weekly Loss in Six

Equities sank into the Friday close, with the S&P500 coming off around 0.25% to record a negative week on Wall Street. Losses were muted, however, with alltime highs printed mid-week signalling consolidation rather than any turn in risk sentiment.

Energy and financials lagged, with the moderating crude price and firm outperformance earlier in the week largely responsible. Losses were stemmed in communication services and consumer staples, which managed to finish in the green.

The VIX picked up moderately from the mid-week lows, with Brexit and Washington dealmaking (or lack thereof) providing a boost, but this effect could fade fast headed into the holidays.