US STOCKS-S&P 500, Dow slip as Apple store closures spark economy revival worries

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* S&P 500, Dow set for fourth weekly rise in five
* Amazon, Facebook help Nasdaq stay in the black
* Indexes: Dow down 0.38%, S&P dips 0.18%, Nasdaq up 0.17%

(Updates to early afternoon)
By Medha Singh and Devik Jain
June 19 (Reuters) - The S&P 500 and the Dow eased in
volatile trading on Friday following Apple's move to temporarily
shut some U.S. stores again after a spike in coronavirus cases
rekindled fears of business disruptions as the economy emerges
from lockdowns.
The iPhone maker fell 0.5% after saying it would shut stores
again in Florida, Arizona, South Carolina and North Carolina,
which have recently reported an uptick in new COVID-19
infections. "This (Apple news) is contrary to what many believe that no
matter how bad the virus got, businesses and communities would
not shut back down," said Randy Frederick, vice president of
trading and derivatives at Charles Schwab in Austin, Texas.
Risk of a resurgence of the virus outbreak have led to
choppy trading sessions this week. Still, the S&P 500 and the
Dow are headed for their fourth weekly rise in five on bets of a
swift post-pandemic bounce back in business activity.
Trading volumes are likely to spike in Friday's session on
account of "quadruple witching," as investors unwind interests
in futures and options contracts prior to expiration. It also
coincides with a delayed quarter-end rebalancing which could
exaggerate market volatility.
The benchmark S&P 500 and the blue-chip Dow slipped after
rising more than 1% earlier, as an increase in oil prices
supported views of an economic recovery.
The tech-heavy Nasdaq, which briefly dipped into the
negative territory, was last up 0.2%, with Amazon.com Inc
AMZN.O and Facebook Inc FB.O providing the biggest boost.
The Nasdaq opened above its all-time closing high on June 10.
At 1:12 p.m. ET, the Dow Jones Industrial Average .DJI was
down 99.50 points, or 0.38%, at 25,980.60, the S&P 500 .SPX
was down 5.53 points, or 0.18%, at 3,109.81. The Nasdaq
Composite .IXIC was up 16.68 points, or 0.17%, at 9,959.73.
AMC Entertainment Holdings Inc AMC.N rose 0.8% on plans to
reopen theaters at about 450 locations in the United States next
month and the company expects to return to full-seating capacity
around Thanksgiving. U.S. Federal Reserve Chair Jerome Powell said the economic
recovery from the pandemic is set to be challenging and there
will be no quick fix, reinforcing his recent cautionary stance
at a video conference on Friday. Declining issues outnumbered advancers for a 1.15-to-1 ratio
on the NYSE. Advancing issues outnumbered decliners for a
1.08-to-1 ratio on the Nasdaq.
The S&P index recorded 18 new 52-week highs and no new low,
while the Nasdaq recorded 114 new highs and two new lows.