Stocks experienced a decline after an early rise, marking the end of a six-week winning streak on Wall Street. The S&P 500 managed to close with minimal changes on Friday, while the Dow Jones Industrial Average decreased by 0.6%. Conversely, the Nasdaq composite climbed by 0.6%, benefiting from the performance of several major technology companies. In a significant development, Capri Holdings, the parent company of luxury brands like Versace, Jimmy Choo, and Michael Kors, saw its stock price nearly halved after a judge intervened to block a planned acquisition by the Coach handbag manufacturer. This week, the stock market faced pressure largely due to increasing Treasury yields, which have diminished the attractiveness of equities for investors.

On Friday’s trading session, the S&P 500 dipped 1.74 points, or less than 0.1%, closing at 5,808.12. The Dow Jones Industrial Average saw a more substantial decline, falling 259.96 points, equivalent to 0.6%, to settle at 42,114.40. Meanwhile, the Nasdaq composite increased by 103.12 points, or 0.6%, reaching 18,518.61. The Russell 2000, which tracks smaller companies, also declined, down by 10.93 points, or 0.5%, finishing at 2,207.99.

Looking at the performance for the week, the S&P 500 recorded a drop of 56.55 points, or 1%. The Dow witnessed a more pronounced fall, down 1,161.51 points, which is a decline of 2.7%. In contrast, the Nasdaq experienced a slight increase of 29.05 points, or 0.2%. Smaller companies represented by the Russell 2000 fell by 68.10 points, amounting to a 3% decline.

For the year so far, the S&P 500 remains up by 1,038.29 points, reflecting a robust increase of 21.8%. The Dow has gained 4,424.86 points, or 11.7%. The Nasdaq has shown an impressive rise of 3,507.25 points, accounting for a 23.4% increase. Lastly, the Russell 2000 is up 180.92 points, translating to an 8.9% gain.