S&P 500 heads for worst week since December

The S&P 500 wavered between gains and losses on Friday as Wall Street looked to the end of what is shaping up to be a losing week. The broad index was little changed, while the Nasdaq Composite slipped about 0.8%. The Dow Jones Industrial Average added 135 points, or 0.4%.

Each major index is on track to end the week with losses. Down 1.4%, the S&P 500 is expected for its first weekly decline in three weeks. The index is also on track for its largest one-week loss since December. Meanwhile, the Dow and Nasdaq Composite are on pace to lose 0.4% and 2.7%, respectively.

Hawkish Fed shifting to data dependency is positive for the market. Investors are still digesting the most recent interest rate hike, economic data and recent commentary from Federal Reserve speakers, which can cause intraday moves in the major indexes. Investors are changing positions as they try to predict how the central bank will act on interest rates going forward.