- Stocks ended slightly lower in a dull, range-bound session, that saw the Dow post a slight loss for the full week while the S&P inched higher.
- Stocks slipped toward the end of the session, after Janet Yellen said she still expected the Fed to raise interest rates sometime this year.
- Industrials (-0.4%) lagged throughout, dragged down by transportation stocks as the Dow Jones Transports extended the week's decline to 2.3%; the move overshadowed Deere's 4.3% spike after beating bottom-line estimates.
- Energy (-0.4%) also lagged, as Nymex crude oil fell 1.7% to $59.66/bbl.
- Investor participation was the thinnest YTD, with just 604M shares changing hands at the NYSE floor.
- Treasurys hit session lows after Yellen's remarks but returned to their intraday levels shortly thereafter; the yield on the 10-year note settled higher by 2 bps to 2.21%.