U.S. stocks were up in midday trading Friday, with the S&P 500 attempting to snap a five-day losing streak. The S&P 500 was up 59 points, or a sharp 1%, at almost 5,928. The Dow Jones Industrial Average was gaining 240 points, or 0.6%, to trade at nearly 42,633.

Indexes failed to hold onto early gains, with investors extending their losing streak to five days. Hope is fading for a Santa Claus rally to take shape.

The S&P 500 may be heading for its first gain since Christmas. The main gauge of Wall Street’s health rose 0.5% in early trading Friday and was on track to break a five-day losing streak. The Dow Jones Industrial Average was up 216 points,

Tesla reported its first fall in yearly deliveries on Thursday as lucrative year-end incentives for the Elon Musk-led electric vehicle maker's aging lineup and the new Cybertruck pickup failed to lure customers wary of high borrowing costs.