The Dow Jones Industrial Average and S&P 500 fell on Friday, on pace for their first weekly loss in three weeks, as the outlook for additional fiscal stimulus remained uncertain.
The 30-stock index chucked 46.74 points to start Friday's session at 29,952.52.
The S&P 500 subtracted 10.24 points to 3,657.86.
The NASDAQ removed 27.98 points to 12,378.92.
For the week, the Dow is down 0.7% and the S&P 500 was behind 0.8%. The NASDAQ entered Friday's session down 0.5% week to date.
Friday's decline came as negotiations over a coronavirus relief deal dragged on. Lawmakers seek to pass a bill before lifelines expire at the end of 2020, but disagreements over state and local stimulus, unemployment assistance and stimulus checks still exist.
News reports have Senate Majority Leader Mitch McConnell's staff informing congressional leadership offices that Senate Republicans likely would not support a $908-billion bipartisan proposal. Earlier on Thursday, House Speaker Nancy Pelosi said that bipartisan negotiations were leading to "great progress."
The House has passed a one-week federal spending extension to avoid a shutdown through Dec. 18 to buy more time to reach a stimulus agreement.
Share of companies hardest hit by the pandemic recession fell in pr-market trading Friday. Carnival, United Airlines and Gap each fell 1%. Tesla shares fell 1.7% after a surprise downgrade by Jefferies.
Without fresh stimulus, millions of Americans could lose unemployment benefits in the New Year. Meanwhile, weekly jobless claims jumped last week to 853,000, the highest total since Sept. 19, as new lockdown restrictions weighed on businesses amid rising coronavirus cases.
Sentiment was downbeat on Friday even as a key Food and Drug Administration advisory panel recommended the approval of Pfizer and BioNTech's coronavirus vaccine for emergency use. The recommendation marked the last step before the FDA gives the final approval to broadly distribute the first doses throughout the U.S.
Bucking the negative trend was Disney. On Thursday, the company said its Disney+ service has 86.8 million subscribers and expects have between 230 million to 260 million subscribers by 2024. The stock rose 7% in pre-market trading.
Prices for the 10-Year Treasury gained ground, lowering yields to 0.88% from Thursday's 0.91%. Treasury prices and yields move in opposite directions.
Oil prices lost three cents to $46.75 U.S. a barrel.
Gold prices jumped $8.50 to $1,845.90.