Stocks erased early gains and the S&P 500 turned negative toward the end of a shortened post holiday session on Friday as Wall Street eyed a seventh straight session of losses on Europe's growing debt crisis.

The Dow Jones industrial average <.DJI> edged up 5.76 points, or 0.05 percent, to 11,263.31. The Standard & Poor's 500 Index <.SPX> dipped 0.25 points, or 0.02 percent, to 1,161.54. The Nasdaq Composite Index <.IXIC> dropped 11.90 points, or 0.48 percent, to 2,448.18.

(Editing by Padraic Cassidy)