04:42 PM EST, 01/03/2025 (MT Newswires) -- US equity indexes fell this holiday-shortened week, with technology and communication services mega-cap names under pressure amid seasonally low trading volumes and relatively light macroeconomic data.

* The S&P 500 stood at 5,942.52 end-of-play, versus 5,970.84 a week earlier and the Nasdaq Composite closed at 19,621.68 compared with 19,722.03 a week prior. The Dow Jones Industrial Average ended Friday at 42,732.13, compared with 42,992.21 a week ago. The weekly decline narrowed following a strong rally on Friday, with gains of 1.3%, 1.8%, and 0.8%, respectively.

* Technology and communication services sat at the bottom of sector charts. Energy, the first of only two peer groups to end the week in the green, topped all peer groups.

* Tesla (TSLA) slumped about 11% this week despite a strong comeback on Friday. Other notable decliners among the mega-caps, defined as companies with a market capitalization of more than $200 billion, that helped drag the indexes lower were Apple ( AAPL ) , Microsoft ( MSFT ) , and Amazon.com ( AMZN ) .

* Trading volume was, expectedly, relatively low across the three indexes this holiday-shortened week, exacerbating price moves in either direction. The equity markets closed at 1 pm ET on Tuesday while remaining shut on Wednesday for the New Year holidays.

* The ISM manufacturing index rose to 49.3 in December from 48.4 in November, compared with an expected decline to 48.2 in a survey compiled by Bloomberg. ISM said demand is improving.

* Other notable developments this week included the end on Dec. 31 of a long-standing agreement that allowed the transit of natural gas produced by the Russian energy company Gazprom through Ukraine and the House re-electing Friday Republican Mike Johnson as its speaker in a nail-biting finish that tested the unity of the Republican party.