NEW YORK (TheStreet) -- Stocks ended Friday's trading day lower and are mixed for the week.
The S&P 500 closed down 0.70%, the Dow Jones Industrial Average slipped 0.78%, or 140 points, and the Nasdaq declined 0.62%. For the week the, the S&P 500 ended flat, rising just 0.06%. The Dow eked out a 0.28% gain, while the Nasdaq fell 0.34%.
European stocks also entered negative territory, as Germany's DAX, France's CAC 40 and the FTSE 100 closed lower. The Stoxx Europe 600 index ended the week just 0.1% higher.
Germany is planning for the possibility of a Greek exit from the euro, according to a German tabloid, after technical talks between the debt-ravaged nation and the International Monetary Fund broke down on Thursday. Germany is reportedly taking precautionary preparations such as capital controls in case of a default.
Crude oil declined on Friday with West Texas Intermediate falling 1.3%, settling at $59.96. The drop in commodity prices hit the energy sector with Exxon Mobil (XOM), Chevron (CVX) and Chesapeake Energy (CHK) falling and the Energy Select Sector SPDR ETF (XLE) down 1.12%.
Wingstop (WING) shares surged in their market debut, opening up 58% to $30.47. The wings restaurant's float of 5.8 million shares was priced at $19 a share, far higher than expectations of $12 to $14.
Twitter (TWTR) gained 1.3% on Friday on news Dick Costolo has stepped down as CEO with Chairman Jack Dorsey to act as CEO on an interim basis. The change will take effect July 1. However, shares gave up most of their gains, closing up just 0.11%.
United Rentals (URI) added almost 2% after Reuters reported that activist investor Jana Partners scooped up a 6% stake in the equipment rental company.
FedEx (FDX) moved lower after the delivery company said it would record a $2.2 billion charge in its fourth quarter related to its adoption of mark-to-market accounting for its pension plans. The company also said it would see a $197 million charge tied to a settlement with an independent contractor.
Restoration Hardware (RH) was 1.5% higher after beating analysts' estimates on its top- and bottom-line in its first quarter. Full-year earnings guidance of $3.02 to $3.15 a share came in above expectations of $3.04 a share.
Bojangles (BOJA) shares were on watch after the restaurant chain reported a better-than-expected first quarter. The company earned 17 cents a share, 2 cents higher than expected, while revenue jumped 19.2% from a year earlier.
Dish Network (DISH) is reportedly talking to banks about funding an offer to acquire T-Mobile (TMUS), according to The Wall Street Journal. Dish would likely take on borrowings worth $10 billion to $15 billion to fund the acquisition. No agreement between the two companies has been made yet.
The Federal Reserve will dominate the economic calendar next week with members convening for their two-day meeting on Tuesday. An announcement will be released and press conference held mid-afternoon Wednesday. Economists do not expect Fed members to elect to raise interest rates until September at the earliest.
Aside from the Fed, next week remains a busy one for economic data. Industrial production data for May will be released on Monday, May housing starts and building permits are slated for Tuesday, and consumer prices for May and the Philadelphia Fed Business Outlook Survey for June are due on Thursday.
On the economic calendar next week, Bob Evans (BOBE) and La-Z-Boy (LZB) will report on Tuesday; FedEx (FDX), Pier 1 Imports (PIR) and Smith & Wesson (SWHC) are due for Wednesday; and Darden Restaurants (DRI), Kroger (KR), and Rite Aid (RAD) will report on Thursday.