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Stocks ended mostly flat but the Dow closed at a record high Friday as Wall Street welcomed Scotland's decision to remain part of the U.K. and Chinese e-commerce giant Alibaba's trading debut. "It's a combination of Alibaba coming to market as well as the election in Scotland; there was underlying concern that that may not go well," said Paul Nolte, senior vice president, portfolio manager at Kingsview Asset Management.
Just over 55 percent of Scottish voters supported sticking with the nation's 307-year union with the U.K. after Prime Minister David Cameron vowed to give additional policy-making powers to Scotland. Alibaba, which raised nearly $22 billion in the largest IPO ever, surged in its U.S. trading debut and closed up 38 percent at $93.89. The Dow ended up 13.75 points, or 0.1 percent, at a record 17,279.74, leaving it 1.7 percent higher on the week, The S&P also set an all-time high during the session but ended down less than a point at 2,010.40. The Nasdaq shed 13.64 points, or 0.3 percent, to 4,579.79.