By Ryan Vlastelica
NEW YORK (Reuters) - U.S. stocks ended mostly flat in a holiday-shortened session on Friday as a massive decline in the energy sector offset strength in consumer names, but major indexes rose for a sixth straight week.
Crude oil
"Crude seems to have no floor right now, and we could easily see the price drop into the low $60s," said Tony Roth, chief investment officer at Wilmington Trust in Wilmington, Delaware.
The Energy Select Sector SPDR exchange-traded fund (P:XLE) fell 6.4 percent to $79.82 while the S&P energy index <.SPNY> lost 6.3 percent, extending its run as the worst-performing S&P industry group of the year. Exxon Mobil Corp (N:XOM) lost 4.2 percent to $90.54 while Chevron Corp (N:CVX) fell 5.4 percent to $108.87; both are Dow components.
Shale energy companies saw outsized declines, as $70 oil is considered the level at which shale becomes an unprofitable alternative. Denbury Resources (N:DNR), QEP Resources (N:QEP) and Newfield Exploration (N:NFX) all lost more than 15 percent.
Oil weakness boosted airlines, which are inversely correlated to oil prices. Southwest Airlines (N:LUV) rose 6.5 percent to $41.82 as the S&P 500's biggest percentage gainer, followed by Delta Air Lines (N:DAL), up 5.5 percent to $46.67.
Retailers rallied as lower gas prices could increase consumer spending. Wal-Mart Stores Inc (N:WMT) rose 3 percent to $87.54, boosting the Dow, while the S&P 500 Retailing index <.SPXRT> was up 1.4 percent.
"Oil this low should be very additive to economic activity, not just with gas prices but across the economy," said Roth, who oversees $80 billion in assets. "Early holiday shopping numbers should come in pretty strong."
The Dow Jones industrial average (DJI) rose 0.49 points to 17,828.24, the S&P 500 (SPX) lost 5.27 points, or 0.25 percent, to 2,067.56 and the Nasdaq Composite (IXIC) added 4.31 points, or 0.09 percent, to 4,791.63.
Major indexes rose for a sixth straight week, the S&P's longest streak since November 2013. For the week, the Dow rose 0.1 percent, the S&P rose 0.2 percent and the Nasdaq rose 1.7 percent.
For November, the Dow rose 2.5 percent, the S&P added 2.5 percent and the Nasdaq 3.5 percent.
NYSE decliners issues outnumbered advancers 1,846 to 1,137, for a 1.62-to-1 ratio; on the Nasdaq, 1,777 issues fell and 875 advanced, for a 2.03-to-1 ratio.
The S&P 500 posted 152 new 52-week highs and 21 new lows; the Nasdaq Composite recorded 163 new highs and 80 new lows.
About 4.2 billion shares traded on all U.S. platforms, according to BATS exchange data.
(Editing by Nick Zieminski)