U.S. stocks wavered on Friday, with the S&P 500 and Dow industrials setting their loftiest finishes, after data had the U.S. economy producing less-than-expected jobs in October and the unemployment rate declining to a six-year low.
"It's good news, it's not great news," Art Hogan, chief market strategist at Wunderlich Securities, said of the Labor Department report, which had payrolls increasing by 214,000 last month, less than the 231,000 anticipated, and the jobless rate at 5.8 percent.
"We're at all-time highs, it's really difficult to rally on news, unless it's really good," said JJ Kinahan, chief strategist at TD Ameritrade.
First Solar led losses on the S&P 500, falling almost 11 percent, a day after the maker of solar panels said it would not create a publicly traded yield company to own and operate its own power plants, as rivals including NRG Energy have done. Monster Beverage was the S&P's best performer, with the maker of energy drinks rising 7.9 percent after reporting quarterly profits that topped estimates.
One measure of investor uncertainty, the CBOE Volatility Index, turned lower, off 4 percent, at 13.12. Investors bought into fixed income and recently battered commodities, including gold and oil.