Stocks cut early gains on Friday, pressured by strength in the U.S. dollar, while declines in shares of large cap technology companies dragged the Nasdaq into negative territory.
The unwinding of dollar carry-trades put pressure on equities, as investors sold high-yielding assets to cover short positions in the dollar. Stocks and the greenback have traded inversely since the stock market hit a 12-year low in early March.
Big tech firms are particularly sensitive to changes in the dollar, with a large portion of their revenue coming from overseas sales.
The Dow Jones industrial average <.DJI> added 20.93 points, or 0.20 percent, to 10,426.76. The Standard & Poor's 500 Index <.SPX> edged up 0.11 point, or 0.01 percent, at 1,102.46. The Nasdaq Composite Index <.IXIC> slipped 8.45 points, or 0.39 percent, to 2,182.41.
(Reporting by Leah Schnurr; Editing by Kenneth Barry)