LIVE MARKETS-Main US indexes edge lower on Friday, but still post weekly gains

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MAIN US INDEXES EDGE LOWER ON FRIDAY, BUT STILL POST WEEKLY GAINS

With few catalysts to fuel much conviction one way or the other on Friday, all three major U.S. indexes seesawed between modest gains and losses before finally ending the session just slightly below the flat line.

As a result, the S&P 500 .SPX, Nasdaq .IXIC and the Dow .DJI all snapped five-day winning streaks.

Earlier in the day, the S&P 500, the S&P Composite 1500 Index .SPSUP and the Russell 1000 Index .RUI all hit record intraday highs before then drifting lower into the close.

However, the NYSE Composite .NYA did eke out a sixth-straight daily rise, as well as a record closing finish.

Gold/silver stocks continued to show strength. The XAU Index .XAU and Arca Gold Bugs Index .HUI both notched record closing highs.

A majority of S&P 500 sectors ended lower, though changes were relatively subdued. No one sector posted an absolute change of more than 0.59%. Energy .SPNY was among the losers. Oil prices settled more than 2% lower on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal.

Friday marked day two of the seven-day Santa Claus Rally period (the last five trading days of the year, and the first two trading days of the new year). With Friday's slight decline, the S&P 500's rolling two-day change is +0.29%.

For the week, the SPX rallied 1.40%, the Nasdaq Composite .IXIC added 1.22% and the Dow gained 1.20%. All three indexes are on track for double-digit gains for the year.

Here is a snapshot of where markets stood just shortly after 4 p.m. ET.

(Terence Gabriel)

EARLIER ON LIVE MARKETS:

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