S&P 500 down 5 at 2,642; Dow down 41 at 24,242
S&P TSX Composite down 29 at 16,039
ISM PMI a shade below expectations
IHS Markit PMI a shade above expectations
Senate passes tax bill by 51 to 49
Shares recovered somewhat from the mid-session wobble, but still finished in negative territory.
The Dow Jones average finished at 24,232, down 41 points while the S&P 500 closed at 2,642, down 5.
For the Dow, although it ended on a dull note it was its best week of the year, with the index advancing 2.9%; the S&P was up 1.5% on the week.
On Saturday morning, the Senate passed a bill that will overhaul the tax code, lopping more than US$1,400bn from tax takings over a 10-year period.
Mid-session: Political fears shake stocks
Fears that President Trump might be impeached resurfaced, hitting stocks hard.
Investors were rattled after it emerged that former national security adviser Michael Flynn promised to cooperate fully with the special counsel's investigation into Russia's alleged involvement in last year's presidential election.
Flynn pleaded guilty to lying to the FBI, though Trump's legal mouthpiece, Ty Cobb, said Flynn's guilty plea did not implicate the president in any wrong-doing.
Nevertheless, the Dow Jones slumped 97 points to 24,177 and the S&P 500 plunged 12 points to 2,635.
On the corporate front, Blue Apron Holdings Inc (NYSE:APRN) shares were wanted after news broker that co-founder Matt Salzberg has stepped down from his role as chief executive of the meal-kit company and will be replaced by chief financial officer Brad Dickerson.
Open: Traders in the mood to bank gains
Stocks have taken a pause for breath after this week's strong gains.
The S&P 500 was more or less unchanged at 24,260 while the Dow Jones 30-share average was off 12 points at 24,260.
The final calculation of the November IHS Markit Purchasing Managers Index (PMI) came in at 53.9 from 54.6 in October, 0.1 above the consensus forecast.
The ISM PMI fell to 58.2% in November from 58.7% in October; economists had been expecting a reading of 58.4%.
Shares in Genesco were massively out of favor, after the firm said same-store sales at Lids fell by 6% in the third quarter, while Journeys saw a 4% sales increase in the period, giving overall comparable sales growth of 1% across the company.
The stock was down about 18% after an hour or so of trading.
Going the other way was American Woodmark Corporation (NASDAQ:AMWD), up 30%.
The kitchen cabinets maker said its fiscal second-quarter yielded net sales of US$274.8mln, up 4% year-on-year.
Earlier today it announced plans to merge with RSI Home Products, a leading manufacturer of kitchen and bath cabinetry and home storage products.
Pre-open: Big Lots and Genesco expected to open lower
Discount retailer Big Lots Inc's (NYSE:BIG) stock was going cheap in pre-market trading despite posting a sharp increase in earnings.
Third quarter net income rose 32.6% to US$2.52mln from US$1.90mln the year before.
Earnings per share of six cents were up 50% year-on-year.
The retailer indicated that same-store or like-for-like sales growth in the current quarter would be flat to +2%.
Genesco Inc. (NYSE:GSC) latest quarterly earnings missed market expectations as a sales fall at its Lids head-wear stores group outweighed growth at its footwear chain Journeys.
The shares lost a fifth of their value as earnings per share of US$1.02 were 10 cents short of the market consensus forecast.
The Wall Street Journal reports that Walt Disney Co (NYSE:DIS) has sued Redbox in an attempt to top the latter from selling digital copies of Disney films.
Spread betting quotes indicate that the Dow Jones average will open at around 24,304, after closing at 24,272.35 last night.
The S&P 500 was expected to kick off at around 2,646.4, down a point or so from last night's close.