S&P 500 posts back-to-back weekly losses | Existing home sales drop | Tech IPOs aren’t delivering

The S&P 500 and the Nasdaq Composite erased their earlier gains to end the day on a down note.

VIEW IN BROWSER | SUBSCRIBE FRI, MAY 21, 2021 EVENING BRIEF AS OF FRI, MAY 21, 2021 • 05:15 ET DJIA 34207.84 +0.36% +123.69 S&P 500 4155.86 -0.08% -3.26 NASDAQ 13470.99 -0.48% -64.75   Most Active DOW NAME LAST CHG %CHG AAPL 125.43 -1.88 -1.48% CSCO 52.43 -0.42 -0.79% MSFT 245.17 -1.31 -0.53% S&P 500 NAME LAST CHG %CHG F 13.33 +0.84 +6.73% AAPL 125.43 -1.88 -1.48% T 30.01 +0.37 +1.25% NASDAQ NAME LAST CHG %CHG AAPL 125.43 -1.88 -1.48% AMD 77.17 -0.89 -1.14% TSLA 580.88 -5.90 -1.01%   EDITOR'S NOTE The S&P 500 and the Nasdaq Composite erased their earlier gains to end the day on a down note. The broad equity index was slightly flat, ending the day down less than 0.1%. Meanwhile, the Nasdaq posted the weakest numbers, dipping 0.5%. The Dow Jones Industrial Average climbed 123.69 points to 34,207.84. While all three indexes managed to notch better weeks than their last, only the Nasdaq managed to close in positive territory after the last five trading sessions. That index finished the week up 0.3%. The Dow ended the week down 0.5%, while the S&P 500 finished Friday's trading off by about 0.4%.   The Dow remains the only index with a gain for the month of May, up just shy of 1%. Goldman Sachs, Boeing and UnitedHealth led blue-chip names higher to end the week.     To Tom Essaye, editor of The Sevens Report, investors are still keen for greater clarity on when inflation may force the Federal Reserve to begin telegraphing a future interest-rate hike, as well as a reduction to its regular asset purchases.   "Going forward, we will all be very, very tired of the word tapering by November, but it is the next major unknown in this market and it will determine whether we see stocks grind higher to 4,500 (or more) or we see a reversal below 4,000," he wrote on Friday, referring to the S&P 500.  Thomas Franck | CNBC Markets and Policy Reporter @tomwfranck TOP NEWS  S&P 500 ends Friday flat, posts its first back-to-back weekly losses since February Bitcoin falls back below $40,000 as it wraps up wild week of trading April existing home sales drop, marking three straight months of declines A record stretch of tech IPOs isn't delivering for new investors because of private market froth Snap CEO Evan Spiegel: We're happy to pay Apple 30% — without Apple we wouldn't exist Media mogul Barry Diller says cryptocurrencies are a 'con' From anti-Tesla design to huge frunk: 5 things to know about the electric Ford F-150 Lightning Breeze Airways debuts in travel rebound, the second new U.S. airline in a month Cramer says bitcoin, crypto trading won't drive stock market for much longer Here are the new top stock picks of hedge funds, according to Goldman Sachs   TOP VIDEO NFL player Kelvin Beachum, Jr. on closing the digital divide   CNBC PRO Bank of America cuts Tesla price target by over 20%, says more stock sales could be coming   SPECIAL REPORTS Why Asian Americans on Wall Street from Goldman Sachs to Wells Fargo are breaking their silence More states are eliminating the extra $300 per week in unemployment benefits. What to know about your rights   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS