Equities were narrowly mixed in a quiet, abbreviated session Friday. The Dow Jones industrial average rose 0.3 percent, the S&P 500 firmed 0.1 percent, and the Nasdaq eased 0.1 percent. US Treasury yields and the dollar rose while oil prices declined.

Trading lacked impetus or conviction on the day after Thanksgiving, with an early close at 1 pm ET.

Megacaps lagged to weigh on the major averages as bond yields rose. Nvidia was a notable decliner after news it would delay rolling out a new microchip designed for the Chinese market.

Sectors were mixed with financials, industrials, materials, health care and energy holding up best while information technology and communications services lagged.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.