S&P 500 index slips after three-day rally as energy shares retreat

The Standard & Poor’s 500 index slipped in light trading before the Christmas holiday following a three-day rally, as energy shares pared their strongest weekly gains since October.

The S&P 500 fell 3.30, or 0.16 percent, to 2,060.99 after rising 1.2 percent on Wednesday. The Dow Jones industrial average fell 50.44, or 0.29 percent, to 17,552.17. The tech-heavy Nasdaq composite rose 2.56, or 0.05 percent, to 5,048.49.

U.S. exchanges are closed Friday for Christmas and will reopen on Monday.

The S&P 500 has slipped 0.9 percent this month, defying the historical trend of gains in December amid investor focus on the U.S. and European central bank meetings. It’s on course for the worst final month of the year since 2007, buffeted by a series of sharp rallies and selloffs.

A report Thursday showed filings for unemployment benefits decreased to a four-week low and continue to hover near the lowest since the 1970s, indicating a still solid labor market approaching the new year.

This story was originally published December 24, 2015 at 2:49 PM with the headline "S&P 500 index slips after three-day rally as energy shares retreat."