Indexes failed to hold onto early gains, with investors extending their losing streak to five days. Hope is fading for a Santa Claus rally to take shape.

U.S. stocks were up in midday trading Friday, with the S&P 500 attempting to snap a five-day losing streak. The S&P 500 was up 59 points, or a sharp 1%, at almost 5,928. The Dow Jones Industrial Average was gaining 240 points, or 0.6%, to trade at nearly 42,633.

Asian markets rose on Friday after U.S. stock indexes slipped as Wall Street’s weak end to last year carried into 2025. U.S. futures and oil prices rose. Japan's market is closed for the New Year holiday.