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- US stocks closed mixed on Friday after a volatile trading session amid weak earnings reports.
- The S&P 500 suffered its first weekly loss in three weeks and notched its worst one-week decline since December.
- But the Nasdaq led the weekly sell-off with a drop of more than 2%.
US stocks were mixed at the close on Friday after a volatile session that capped off a losing week for the major indexes.
The S&P 500 suffered its first weekly loss in three weeks and notched its worst one-week decline since December. But the Nasdaq led the weekly sell-off with a drop of more than 2%.
Trading on Friday began in the red amid some weak earnings reports. Elsewhere, oil prices rose after Russia announced plans to cut crude production starting in March by 500,000 barrels per day in response to sanctions.
Here's where US indexes stood at the 4 p.m. ET close on Friday:
- S&P 500: 4,090.46, up 0.22%
- Dow Jones Industrial Average: 33,869.27, up 0.50% (169.39 points)
- Nasdaq Composite: 11,718.12, down 0.61%
Here's what else is happening this afternoon:
- The US economy will be teetering on the edge of a recession for the next two years, according to JPMorgan Asset Management.
- Ridesharing company Lyft notched a massive stock decline on a disappointing earnings report.
- Tesla stock will soar 44% as Elon Musk is the new Steve Jobs, said veteran Wall Street analyst Keith Fitz-Gerald.
In commodities, bonds and crypto:
- West Texas Intermediate crude oil gained 2.05% to $79.66 per barrel. Brent crude, oil's international benchmark, added 2.55% to $86.65.
- Gold ticked up 0.14% to $1,864.13 per ounce.
- The yield on the 10-year Treasury rose 6.4 basis points to 3.747%.
- Bitcoin climbed 0.19% to $21,759.77.
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