LIVE MARKETS-Tech spoils the party ahead of a hectic week
SPY•Stocks end mixed as tech sells off
U.S. stocks spent Friday's session trying, mostly unsuccessfully, to coax buyers back to the fold following Thursday's tech-led rout.
But as big tech companies failed to clear lofty earnings expectations to investors' satisfaction, while elevated oil prices amid escalating hostilities in the Middle East stoked inflation fears, the big comeback never materialized.
The Dow Jones Industrial Average .DJI rose 235.6 points, or 0.46%, to 51,947.25; the S&P 500 .SPX gained 3.68 points, or 0.05%, to 7,411.98 and the Nasdaq Composite .IXIC lost 161.87 points, or 0.64%, to 24,975.82.
All three indexes logged weekly losses, with consumer discretionary .SPLRCD and communication services .SPLRCL suffering the worst of it, ending 6.9% and 4.6%, respectively, below last Friday's closing levels.
Energy leads weekly gains as oil climbs
Energy stocks .SPNY were the week's clear winners, jumping 3.7% on the week with a boost from rising oil prices amid growing war-related supply concerns. Over the last three weeks, WTI crude has jumped over 30%.
