The Dow Jones industrial average fell 9.52 points to close at 13,973.39. The Standard & Poor's 500 index edged up 1.05 to 1,521.38. The Nasdaq composite index rose 1.78 to 3,198.66.
The S&P 500 has climbed 1.6 percent this month and 6.7 percent for the year.
After a strong start, the stock market has drifted sideways over the week, with few major events to sway investors. That calm could disappear soon, said Doug Cote, chief market strategist at ING U.S. Investment Management. With recessions in Europe and Japan, and weak growth in the United States, he's bracing for some turbulence.
"Everybody is too complacent," Cote said.
In the market for U.S. government bonds, the yield on the 10-year Treasury slipped to 1.99 percent from 2.02 percent the day before.
The 10-year Treasury yield, used to set a variety of borrowing rates, began the year around 1.70 percent and has climbed steadily since then. As worries about a recession ease, traders have shifted money out of the Treasury market, driving yields up.
Among the day's market movers, Cisco Systems fell 1 percent. The world's largest maker of computer-networking equipment reported earnings late Wednesday that surpassed Wall Street's expectations, but predicted sales growth that was weaker than previous estimates. Cisco lost 15 cents, to $20.99.
Constellation Brands soared 37 percent after reaching a deal with Anheuser-Busch InBev. InBev agreed to sell a brewery in Mexico and rights for Corona and Modelo beer in the U.S. to Constellation for $2.9 billion. Constellation Brands gained $11.87 to $43.75.
Whole Foods Market slumped 10 percent. The grocery-store chain trimmed its forecasts for sales and earnings this year, a result of plans to open more stores and put more lower-priced goods on its shelves. Whole Foods lost $9.40, to $87.50.
General Motors fell 3 percent after the biggest U.S. carmaker said it made money in North America and Asia and nearly doubled last year's fourth-quarter profit. But earnings fell short of analysts' estimates. GM dropped 92 cents, to $27.75.