Stocks end lower, Dow in 125-point drop

Stocks ended lower Friday, with the Standard & Poor's 500 pulling back from Thursday's all-time closing high.

The Dow Jones industrial average ended down 123.23 points, 0.7%, to 16,960.57, its first close below 17,000 for the week.

The S&P 500 ended down 9.64 points, 0.5%, to 1978,34, while the tech-heavy Nasdaq composite ended down 22.54 points, 0.5%, to 4449.56.

Pandora succumbed to pressure from disappointing earnings forecasts, closing down 10.4% as one of the top laggards for the Nasdaq index.

Markets are also bummed by disappointing earnings results from Visa and especially Amazon. The e-tail giant's stock ended down 9.7%.

Orders for long-lasting manufactured goods rebounded in June after a May decline, helped by a recovery in demand in a key category that signals business investment plans.

Stanley Black & Decker finished up 6.68 after cutting costs and taking advantage of the surge in orders for manufactured goods.The equity is pushing back against a red day for the S&P 500.

Outdoor recreation supplier Deckers is hitting new highs after reporting record sales, ending up 6.8% to $90.98.

The Commerce Department says that orders for durable goods increased 0.7% in June on a seasonally adjusted basis following a 1% decline in May.

Japan's Nikkei 225 rallied Friday, gaining 173.45 points, or 0.93%, to close at 15,457.87. China's markets also gained, with the Shanghai Composite gaining 21.55 points, or 1.02%, to 2,126.61 and Hong Kong's Hang Seng index rising 52.08 points, or 0.22%, to 24,193.58.

Britain's FTSE 100 is down 0.2%, while Germany's DAX is declining 0.6% and France's CAC-40 is 1% lower.

Contributing: The Associated Press.