After hitting its highest level in more than a month on Monday, the index fell 0.10% on Wednesday and 0.02% on both Tuesday and Friday.
War-related headlines had less impact on Friday, leaving markets calmer than usual despite the monthly US jobs report showing significantly stronger payroll growth.
Bond and rate markets have recently shifted focus from payrolls to unemployment, and Friday's 4.3% jobless rate matched expectations, limiting pressure on mortgage rates.
As a Mideast war fuels inflation, is this week's interest rate drop just a temporary illusion?
Markets are ignoring strong job growth. What new economic signal should we be watching instead?