U.S. stocks ended a short but volatile week on a lower note Thursday, as the broader market averages finished fractionally lower. Traders contended with a lower-than-expected June jobs report and pending referendum vote ahead of the July 4th holiday weekend. Financial and health care names led the way lower, while utility stocks rallied. Elsewhere, the yield on the benchmark 10-year U.S. treasury note lost 3.6 basis points, to 2.386%.
Natera (NTRA) was the big winner on Friday, gaining 26% in the first day of trading for the medical diagnostics IPO. Health Net (HNT) also gained 10% after receiving a $6.3 billion takeover offer from fellow health insurer Centene (CNC). Centene shares fell 8% on the session. Elsewhere, Yelp (YELP) lost 10% on a Bloomberg News report that the company's process to sell itself had stalled.
As we look forward to next week, Alcoa (AA) kicks off the second-quarter earnings season on Wednesday. Pepsico (PEP) and Walgreens Boots Alliance (WBA) will report on Thursday. Next week will be relatively quiet on the economic front, highlighted by the minutes from the June Federal Open Market Committee meeting on Wednesday.