<p class="title">The S&P 500 was largely flat in afternoon trading on Friday towards the end of another volatile week as investors weighed Oracle's strong results against data that suggested a long and wobbly economic revival from a coronavirus-led downturn.</p>.<p class="bodytext">Oracle's shares edged higher after hitting a record high earlier in the session as the cloud services company's earnings beat estimates and it signalled a recovery in client spending due to higher remote working-led demand.</p>.<p class="bodytext">Trading in so-called "stay-at-home winners" — Apple Inc, Amazon.com Inc, Microsoft Corp and Netflix Inc — were mixed but the mega-caps were set to fall between 5% and 8% for the week, extending losses from last Friday that brought Wall Street's rally to a screeching halt.</p>.<p class="bodytext">The S&P 500 was headed for the first back-to-back weekly decline since March as concerns about the massive build-up in call options tied to tech names exacerbated the selloff.</p>.<p class="bodytext">"We are seeing some rotation from the previous leaders into some of the laggards and it's a potentially encouraging sign that we're not just having a 'sell everything' moment like in March," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.</p>.<p class="bodytext">Industrials and financial stocks provided the biggest boost to the benchmark index. The material was the only S&P sector poised to end higher on the week.</p>.<p class="bodytext">"The upward trajectory is in play but it's just going to be much more of a volatile give-and-take relationship and it might cause some investors some pain on those pullbacks," Detrick said.</p>.<p class="bodytext">Many investors view the slump as a healthy consolidation after a stunning five-month rally in the S&P 500 that was powered by a narrow group of heavyweight tech names and scores of fiscal and monetary stimulus.</p>.<p class="bodytext">Meanwhile, latest data showed U.S. consumer prices increased solidly in August, but the labour market's slack is likely to keep a lid on inflation as the economy recovers from the Covid-19 recession.</p>.<p class="bodytext">At 12:45 p.m. ET, the Dow Jones Industrial Average was up 96.22 points, or 0.35%, at 27,630.80 and the S&P 500 was down 2.59 points, or 0.08%, at 3,336.60. The Nasdaq Composite was down 88.99 points, or 0.81%, at 10,830.60.</p>.<p class="bodytext">Exercise bike maker Peloton Interactive Inc climbed 1% as it reported forecast-beating quarterly revenue due to a surge in subscribers and increased demand for its fitness products during the pandemic.</p>.<p class="bodytext">Advancing issues outnumbered decliners by a 1.28-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 1.05-to-1 ratio on the Nasdaq.</p>.<p class="bodytext">The S&P index recorded five new 52-week highs and one new low, while the Nasdaq recorded 21 new highs and 20 new lows</p>
<p class="title">The S&P 500 was largely flat in afternoon trading on Friday towards the end of another volatile week as investors weighed Oracle's strong results against data that suggested a long and wobbly economic revival from a coronavirus-led downturn.</p>.<p class="bodytext">Oracle's shares edged higher after hitting a record high earlier in the session as the cloud services company's earnings beat estimates and it signalled a recovery in client spending due to higher remote working-led demand.</p>.<p class="bodytext">Trading in so-called "stay-at-home winners" — Apple Inc, Amazon.com Inc, Microsoft Corp and Netflix Inc — were mixed but the mega-caps were set to fall between 5% and 8% for the week, extending losses from last Friday that brought Wall Street's rally to a screeching halt.</p>.<p class="bodytext">The S&P 500 was headed for the first back-to-back weekly decline since March as concerns about the massive build-up in call options tied to tech names exacerbated the selloff.</p>.<p class="bodytext">"We are seeing some rotation from the previous leaders into some of the laggards and it's a potentially encouraging sign that we're not just having a 'sell everything' moment like in March," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.</p>.<p class="bodytext">Industrials and financial stocks provided the biggest boost to the benchmark index. The material was the only S&P sector poised to end higher on the week.</p>.<p class="bodytext">"The upward trajectory is in play but it's just going to be much more of a volatile give-and-take relationship and it might cause some investors some pain on those pullbacks," Detrick said.</p>.<p class="bodytext">Many investors view the slump as a healthy consolidation after a stunning five-month rally in the S&P 500 that was powered by a narrow group of heavyweight tech names and scores of fiscal and monetary stimulus.</p>.<p class="bodytext">Meanwhile, latest data showed U.S. consumer prices increased solidly in August, but the labour market's slack is likely to keep a lid on inflation as the economy recovers from the Covid-19 recession.</p>.<p class="bodytext">At 12:45 p.m. ET, the Dow Jones Industrial Average was up 96.22 points, or 0.35%, at 27,630.80 and the S&P 500 was down 2.59 points, or 0.08%, at 3,336.60. The Nasdaq Composite was down 88.99 points, or 0.81%, at 10,830.60.</p>.<p class="bodytext">Exercise bike maker Peloton Interactive Inc climbed 1% as it reported forecast-beating quarterly revenue due to a surge in subscribers and increased demand for its fitness products during the pandemic.</p>.<p class="bodytext">Advancing issues outnumbered decliners by a 1.28-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 1.05-to-1 ratio on the Nasdaq.</p>.<p class="bodytext">The S&P index recorded five new 52-week highs and one new low, while the Nasdaq recorded 21 new highs and 20 new lows</p>