Stock market ends session flat, but books weekly gains as government shutdown approaches a record

Stocks on Friday ended with slight losses, but capped a week that helped to propel the Dow and S&P 500 out of corrective phases as progress on trade talks with China and the U.S. overshadowed a partial government shutdown that had entered a 21st day. The Dow Jones Industrial Average DJIA, -0.02% closed down about 6 points lower, or less than 0.1%, at 23,995, the S&P 500 index SPX, -0.01% edged less than a point lower to reach 2,596, while the Nasdaq Composite Index COMP, -0.21% fell 0.2% to close at 6.971, on a preliminary basis. For the week, the Dow booked a weekly gain of 2.4%, the S&P 500 ended 2.5% for the period, while the Nasdaq produced a weekly return of 3.5%. On Thursday, the S&P 500 and the Dow emerged from a correction, usually defined as a drop of 10% from a recent peak. The indexes climbed by at least 10% from their correction low, a day ago, which signals an emergence from correction, according to Dow Jones Market Data. On Saturday, the partial government shutdown will mark the longest on record in its 22nd day. At that point, investors may take greater notice but thus far Wall Street investors have enjoyed solid gains. Next week, bank earnings from Citigroup (s: C] and JPMorgan Chase & Co. JPM, -0.48% among others, mark the unofficial start of earnings season, which may offer fresh clues about the health of American corporations. Meanwhile, a General Motors GM, +7.05% said it increased its profit guidance for 2018 and estimated a stronger performance in 2019.

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