It’s a mixed session at the end of a bearish week on Wall Street, with major U.S. stock averages reacting to conflicting economic data released Friday.

While everything seemed to be pointing toward reduced expectations for Federal Reserve interest rate cuts and another session of declines on Wall Street, the Institute for Supply Management (ISM) released a survey on Service PMIs that fell well short of expectations, dropping by 2.1 points to 50.5 in December, compared to the anticipated 52.5.

Investors subsequently adjusted their rate expectations, leading to lower Treasury yields and renewed support for stocks.

At 12:50 p.m. in New York, the S&P 500 index was marginally up by 0.1%, while the Nasdaq 100 attempted a rebound, up by 0.2%, after five consecutive red sessions. The Dow Jones blue-chip stocks slipped by 0.2%, while small-cap stocks declined by 0.1%.

Friday’s Performance In US Major Indices, ETFs

Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:XLC) rose by 0.4%, outperforming sector peers. The Real Estate Select Sector SPDR Fund (NYSE:XLRE) underperformed for the third straight session, down 0.7%.

Among industries, the SPDR S&P Regional Banking ETF (NYSE:KRE) outperformed, up 1.1%, while clean-energy stocks, as tracked by the Invesco WilderHill Clean Energy ETF (NYSE:PBW), lagged behind, down 1.6%.

Friday’s Stock Movers

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