The Dow Jones Industrial Average closed flat after paring earlier losses Friday while other stock market indexes showed slight losses.
A rush of late buying cut the market's losses. The Dow tested support at the 50-day moving average for the second day in a row.
The S&P 500 lost 0.2% at closing bell, while the Nasdaq fell 0.4%. The small-cap Russell 2000 fell 0.3% to end the trading week.
Volume on the NYSE and on the Nasdaq was lighter compared with the same time Thursday.
Crude oil continued to sell off, falling to $70.12 a barrel.
On Friday, Fed Gov. Michelle Bowman said that an interest-rate pause will depend on "consistent evidence that inflation is on a downward path."
The yield on the 10-year Treasury note rose 7 basis points to 3.46%.
Stocks Moving Today Outside Dow Jones
Homebuilder stocks fell amid rate uncertainty. PulteGroup rose slightly into the finish on Friday and KB Home fell modestly after rising to new highs. Meritage Homes fell slightly, near an alternate entry at 130.78. It held above the 50-day moving average on Friday.
Penumbra and Insulet in the medical products group rose Friday. Both stocks, along with Novo Nordisk, have found support at the 50-day line, according to IBD MarketSmith. Insulet is still in a buy zone from its 10-week line.
Solar stocks rose as First Solar spiked, retaking the 50-day line, after news that the Tempe, Ariz., company will acquire Evolar, a European company that specializes in thin photovoltaic technologies. Enphase Energy rose 4% in sympathy.
Solar play Shoals Technologies was on watch as it tested the 200-day line, where the stock has met resistance. Shares retook the 50-day line in strong volume on Tuesday.
Rollins broke out of cup with handle at a buy point of 42.69. But the stock ended a notch below the entry. Volume was well below average, another drawback for the attempted breakout. The company is discussed in the IBD Big Cap 20.
Charles Schwab rose on news that client assets grew in April. The stock remains in a deep slump.
Futures: Why This Market Is So Dangerous. What To Do Now.
Tesla Falls Despite Musk's Twitter News
Shares of Tesla reversed lower. CEO Elon Musk confirmed that former NBCUniversal advertising chief Linda Yaccarino will be the new Twitter chief executive.
Tesla stock languished below its 50-day line. Also Friday, a China regulator said the EV maker must make a software update for over 1 million cars. The recall starts May 29.
Dow Jones component Home Depot rose while Walmart ended flat with earnings due next week. WMT has been holding up in a buy zone above an entry at 148.44. Home Depot tried to retake the 50-day line but remained in a deep correction.
Smaller retailers Ross Stores and Dollar Tree rose with earnings due later this month. ROST tested its 50-day line, which has been a level of resistance for several weeks. Dollar Tree shares remain in a long correction.
Consumer Sentiment Falls
The University of Michigan consumer sentiment index fell to 57.7 in May from 63.5 in April. Chief Economist Jeffrey Roach at LPL Financial believes that slowing spending on concerns of weakness in banking, jobs and the looming debt ceiling may finally bring inflation back on track.
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