There was more volatility on Friday in New York with the three main benchmarks opening higher and extending gains through early afternoon when news of the indictment of a Russian troll farm and 13 Russian nationals related to interference in the 2016 US presidential election took the wind out of the rally's sails.
While the Dow and the S&P 500 managed to eke out small advances on the day, the Nasdaq slipped. The profit taking was taken in stride and did little to stall the rebound from the correction earlier this month.
Each of the three measures were solidly higher on the week: the Dow added 4.3 per cent, the S&P 500 4.3 per cent and the Nasdaq 5.3 per cent. The VIX held below 20 as volatility continued to steady.
For local investors, the focus this week is squarely on the December quarter wage price index on Wednesday.