NEW YORK (AP) — Wall Street's six-day rally stalled out on Friday as stocks ended the day mostly flat in quiet trading.
Bond yields continued to rise. The yield on the 10-year Treasury note climbed above the 3 percent mark. The yield hasn't consistently traded above that level since July 2011. The increase will translate into higher interest rates on mortgages and other kinds of loans.
Energy stocks were among the biggest gainers after oil prices climbed above $100 a barrel for the first time since October. Offshore oil drilling companies Transocean and Diamond Offshore each rose about 1.5 percent. Oil giant ExxonMobil climbed 1 percent.
Sprint jumped 83 cents, or 8 percent, to $10.79 following news reports that Japan's Softbank, which owns Sprint, may use the company as a vehicle to purchase wireless competitor T-Mobile.
Most of Wall Street remains on vacation. Trading volume has been very low this week. Only 2 billion shares changed hands on the New York Stock Exchange on Friday, about 40 percent below the recent average.
There were no major economic reports or corporate earnings Friday.
The Dow Jones industrial average closed down 1.47 points, or 0.01 percent, to 16,478.41.
The Standard & Poor's 500 index fell 0.62 point, or 0.03 percent, to 1,841.40 and the Nasdaq composite was down 10.59 points, or 0.3 percent, at 4,156.59.
Even with Friday's pause, the stock market has been in rally mode heading into the end of the year. The Dow and S&P 500 are up 2.4 percent and 2 percent respectively so far in December, with only two trading days left in the year. For 2013, the S&P 500 is up roughly 29 percent, its best year since 1997, and the Dow is up 25.8 percent, its best year since 1996.