Trading was light as many investors took the day off ahead of Columbus Day on Monday, when the bond market will be closed.

The Dow Jones industrial average closed down 5.33 points, or 0.1 percent, at 9,674.68. The Dow’s 49-point advance yesterday took the gauge to its highest close since June 18, 2002.

Other gauges ended mixed. The Nasdaq composite index edged up 3.41, or 0.2 percent, to 1,915.31 — its highest level since March 2002. The Standard & Poor’s 500 index slipped 0.67, or 0.1 percent, to 1,038.06.

For the week, all three main indexes finished higher, with the Dow up 1.1 percent, the Nasdaq rising 1.9 percent and the S&P up 0.8 percent. It was the third winning week in four.

Analysts said the market is catching its collective breath after the recent run-up in prices.

"We’ve had a pretty good surge, actually quite an impressive surge," said Steven Goldman, chief market strategist for Weeden & Co. in Greenwich, Conn. "Once you punch out to new record highs you’re vulnerable to pulling back, consolidation and a taking a little bit of a rest."

The leveling in stocks coincided with the release of two reports on the economy.

The Commerce Department reported that the U.S. trade deficit declined to $39.21 billion last month, the smallest gap in six months, as imports of cars and oil fell. Analysts were expecting a wider deficit.

In a second report today, the Labor Department reported that inflation at the wholesale level rose by a higher-than-expected 0.3 percent in September.

Positive financial data, from government reports to third-quarter earnings results, have lifted stock prices this week, but analysts say investors remain cautious as they look for further evidence that the economic recovery can be sustained.

Russ Koesterich, strategist at State Street Corp. in Boston, said investors are hesitant to put money in stocks until more companies report third-quarter earnings and update their outlooks for the rest of the year.

"We’re caught in a tight range today," Koesterich said. "There was a lot of disappointment that we couldn’t hold on to gains yesterday following positive job numbers and results from Yahoo."

GE declined 81 cents, or 2.7 percent, to $29.32 after the conglomerate reported third-quarter results that were in line with expectations, but said it expects to earn 45 to 47 cents per share in the fourth quarter. Analysts were looking for earnings of 47 cents a share in the fourth quarter.

Computer Associates International Inc. fell again today, losing $2.45 to $23.50 a day after it forced out three executives over accounting practices.