US stocks end flat, post weekly loss of over 1%

US stocks closed mostly unchanged on Friday, after the broader market index touched a record high earlier in the session, amid thin trading following the return from the Christmas holiday.

At the close, the Dow Jones Industrial Average settled at 48,710 points, but posted a weekly drop of 1.20%.

The broader S&P 500 index also ended flat at 6,929 points after touching a record high of 6,945.77 earlier in the session, and recorded a weekly loss of 1.40%.

Meanwhile, the Nasdaq Composite slipped slightly by about 0.10%, or 20 points, to 23,593 points, bringing its weekly decline to 1.22%.

European markets were closed on Friday in observance of Boxing Day, and are set to resume normal trading early next week.

In Japan, the Nikkei 225 rose 0.68% to 50,750 points, posting weekly gains of 2.51%, while the broader Topix index climbed 0.15% to 3,423 points.

In the oil market, Brent crude futures for February delivery fell 2.57%, or $1.60, to $60.64 per barrel, marking a weekly loss of 0.28%.

US WTI crude futures for February delivery also declined 2.76%, or $1.61, to $56.74 per barrel.

As for gold, futures for February delivery rose 1.10%, or $49.9, to $4,552.70 per ounce, setting a new record close and achieving weekly gains of 3.77%.