(CNBC) U.S. stocks closed slightly lower on Friday as news of an activist stake in American Express offset some of the pressure from oil's decline, following an in-line nonfarm payrolls report. ( Tweet This )
The major averages ended the week about 1.5 percent lower, with the Dow Jones industrial average the worst performer.
Stocks halved losses in afternoon trade, with American Express jumping more than 6 percent on news that ValueAct took a $1 billion stake in the firm. In afternoon trade, trade volume in shares of the financial services firm was nearly double its average for the entire day.
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