Stocks edged a bit lower on Wall Street on Friday as the first week of corporate earnings season ended with markets trading near record levels.

The S&P 500 fell 4.46 points, or 0.1 percent, to 6,940.01. It is sitting just below its record, which was set on Monday. The Dow Jones Industrial Average fell 83.11 points, or 0.2 percent, to 49,359.33. The Nasdaq composite fell 14.63 points, or 0.1 percent, to 23,515.39. Each index notched weekly losses.

Smaller company stocks fared better. The Russell 2000 eked out a 0.1 percent, while also notching a 2 percent gain for the week.

Technology stocks were the strongest forces behind the market's moves throughout most of the day. Several big technology stocks made strong gains and helped offset losses elsewhere.

“Despite the strong start to 2026, we would not be surprised if markets experience volatility in the coming weeks as fourth quarter earnings progress and the threat of escalating geopolitical tensions remains,” wrote Doug Beath, global equity strategist at Wells Fargo Investment Institute, in a note to investors.

Gold prices, which have also been volatile this week, fell. Prices for the precious metal, often viewed as a safe haven amid economic and geopolitical uncertainty, fell 0.6 percent, but are still up more than 5 percent so far in January.

Treasury yields moved higher in the bond market. The yield on the 10-year Treasury rose to 4.23 percent from 4.17 percent late Thursday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, rose to 3.60 percent from 3.57 percent late Thursday.

The Fed's next policy meeting on interest rates is in two weeks, and Wall Street is betting that it will maintain its current benchmark interest rate. The central bank is trying to balance a slowing jobs market with stubbornly high inflation. Updates on inflation this week showed that prices remain above the Fed's 2 percent goal. (AP)