The major averages rolled over around midday after Apple said it would reclose some of its stores, citing the recent coronavirus spikes in certain states. The Dow — which had gained more than 300 points to start the session — was down more than 300 points at its session low. Trading was also volatile amid a major S&P 500 index rebalancing. Despite the choppy trading action, the major averages posted their fourth weekly gain in five.
Apple shares closed 0.6% lower. Earlier in the day, the stock reached an all-time high. Shares of companies primed to benefit from the economy reopening dipped. United closed 6% lower while Carnival and Kohl's dropped 5% each.
Existing home sales data are set for release Monday.
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