LIVE MARKETS-Stocks close down for the week as valuations, shutdown weigh

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STOCKS CLOSE DOWN FOR THE WEEK AS VALUATIONS, SHUTDOWN WEIGH

U.S. stocks ended the session flat to lower, snapping a three-week winning streak for each of the three major indexes as concerns about stretched valuations along with a lack of economic data due to the government shutdown spurred profit-taking.

Equities pared declines late in the session, with the Dow and S&P turning positive, after an aide to Democratic Senator Chuck Schumer said the party was proposing to reopen the government, although that was quickly refuted by Republicans.

With the lack of official government data, investors have been forced to rely on other indicators to gauge the health of the economy. The University of Michigan's Surveys of Consumers on Friday showed consumer sentiment slumped to near a 3-1/2-year low in early November as households across the political spectrum worried about the economic fallout from the shutdown.

For the week, the S&P 500 .SPX fell 1.63%, the Dow lost 1.21% and the Nasdaq dropped 3.04%. The declines for the Nasdaq marked the largest weekly decline since early April.

Below is your closing market snapshot:

(Chuck Mikolajczak)

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