NEW YORK -- Stocks gave up an early gain and are closing broadly lower, giving the market its first weekly loss after two weeks of gains.
Indexes set record highs on Monday but then wobbled for the rest of the week.
Traders assessed a mixed bag of earnings reports from big companies Friday including Microsoft and American Express. They're also trying to guess how much the Federal Reserve will cut interest rates at the end of July.
USA Today publisher Gannett soared 20% following reports that it was close to a deal to combine with GateHouse Media.
The S&P 500 fell 18 points, or 0.6%, to 2,976.
The Dow Jones Industrial Average lost 68 points, or 0.3%, to 27,154. The Nasdaq gave up 60 points, or 0.7%, to end at 8,146.