S&P 500 trims weekly gain, but Nasdaq inches higherDow -208.64 at 25871.48, Nasdaq +3.07 at 9946.13, S&P -17.42 at 3097.79 [BRIEFING.COM] The S&P 500 declined 0.6% on this quadruple-witching expiration Friday, as renewed concerns about a recovery and the coronavirus tempered the market's early enthusiasm. The Dow Jones Industrial Average lost 0.8%, and the Russell 2000 lost 0.6%. The Nasdaq Composite (+0.03%), however, eked out an incremental gain. Today's price action was relatively volatile. The S&P 500 gained as much as 1.3% shortly after the open but then declined as much as 1.0% into negative territory by the afternoon. The following coronavirus-related developments were attributed to the intraday decline: Apple ($AAPL 349.72, -2.01, -0.6%) will reportedly re-close some stores in four states due to COVID risks. Arizona, Florida, and California reported noticeable increases in daily coronavirus cases. Boston Fed President Rosengren said a second-half economic rebound will likely be slower than initially hoped due to the continued spread of the coronavirus. The market closed off its lows, but most sectors still finished lower, including the S&P 500 utilities (-3.1%) and industrials (-1.7%) sectors at the bottom of the standings. The health care sector (+0.9%) was the lone sector in the green amid gains in its biotech components. The iShares NASDAQ Biotechnology ETF ($IBB 137.85, +4.36) rose 3.3%. CarMax ($KMX 91.78, -6.13, -6.3%) was among the weakest performers in the S&P 500 after the company provided mixed earnings results. Shares initially traded higher after the company said sales have progressively improved since hitting a trough in early April. U.S. Treasuries ended the session near their flat lines after trading lower in early action. The 2-yr yield and the 10-yield remained unchanged at 0.19% and 0.70%, respectively. The U.S. Dollar Index increased 0.3% to 97.67. WTI crude rose 2.5% (+$0.95) to $39.74/BBL. Friday's economic data was limited to the Current Account Balance for the first quarter, which narrowed to $104.2 billion (Briefing.com consensus -$99.8 billion) from $109.8 billion in the fourth quarter of 2019. Looking ahead, investors will receive the Existing Home Sales report for May on Monday. Nasdaq Composite +10.9% YTDS&P 500 -4.1% YTDDow Jones Industrial Average -9.4% YTDRussell 2000 -15.0% YTD Market Snapshot Dow25871.48-208.64(-0.80%)Nasdaq9946.13+3.07(0.03%)SP 5003097.79-17.42(-0.56%)10-yr Note +1/320.695NYSEAdv 990 Dec 1868 Vol 3.5 blnNasdaqAdv 1548 Dec 1792 Vol 6.0 bln Industry Watch Strong: Health CareWeak: Utilities, Industrials, Real Estate, Industrials Moving the Market -- Market tamed by coronavirus/recovery concerns -- Arizona, Florida, and California report noticeable increases in COVID-19 cases-- Apple (AAPL) reportedly planning to temporarily re-close some stores again due to COVID risks-- Boston Fed President Rosengren offers cautious outlook on economyECONOMIC EVENTS: In U.S. data, the current account deficit narrowed fractionally to $104.2B in Q1, which was close to expectations. TOP NEWS: Shares of AMC Entertainment ($AMC) were 3% higher near noon after the company announced last night that it will will resume operations of 450 U.S. theaters as part of a phased plan that is expected to bring the 600-plus U.S. theater circuit to nearly full operation leading into the opening of Disney's ($DIS) "Mulan" on July 24 and Warner Bros.' ($T) "Tenet" on July 31. The theater operator noted that, as part of its reopening plan, it is launching a "comprehensive health and sanitation program," and will impose seat capacity limitations in an effort to encourage social distancing. Meanwhile, AMC CEO Adam Aron told Variety that the company will not mandate that all guests wear masks when theaters reopen, saying the company "did not want to be drawn into a political controversy." Marathon Petroleum ($MPC) shares rose 4% after The Wall Street Journal reported that the company is in talks with potential suitors for its Speedway gas-station business, reviving a sale that fell apart in the early stages of the COVID-19 crisis. Potential buyers include Alimentation Couche-Tard ($ANCUF), according to the Journal. Marathon indicated last year that the business could be worth $15B-$18B, the Journal said, noting that any deal is likely weeks away and that Marathon may choose to stick with a plan to spin off the business instead. In earnings news, CarMax ($KMX) shares fell 5% after the company reported lower-than-expected earnings for the first quarter, with total wholesale vehicle unit sales falling 47.6% year-over-year. Of note, CarMax CEO Bill Nash said he is "encouraged" by recent trends in May and June. Meanwhile, shares of TrueCar ($TRUE) rallied 6% after it noted in a slides presentation that vehicle demand spiked 19% from June 1-15. MAJOR MOVERS: Among the noteworthy gainers was Niu Technologies ($NIU), which rose 18% after Piper Sandler analyst Alexander Potter raised his price target on the shares to $24 from $11. Also higher was Dynavax ($DVAX), which gained 10% after it announced that the first participants have been dosed in the Phase 1 clinical trial to evaluate Clover Biopharmaceuticals' vaccine candidate to prevent COVID-19. Among the notable losers was BeyondSpring ($BYSI), which slid 18% after its 1.93M share spot secondary offering priced at $13 per share. Also lower was At Home Group ($HOME), which fell 4% after reporting quarterly results.Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. 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