U.S. stock indexes closed mostly lower Friday as a decline in technology stocks offset a strong performance by Wall Street banks.
The S&P 500 notched its third straight weekly gain. Bond yields rose sharply after the government reported that Americans kept spending money in August. Investors were looking ahead to next week, when the Federal Reserve is expected to announce another interest rate cut.
The S&P 500 index slipped 2.18 points, or 0.1%, to 3,007.39.
The Dow Jones Industrial Average rose 37.07 points, or 0.1%, to 27,219.52.
The Nasdaq fell 17.75 points, or 0.2%, to 8,176.71.
The Russell 2000 index of smaller-company stocks gained 3.07 points, or 0.2%, to 1,578.14.
For the week:
The S&P 500 rose 28.68 points, or 1%.
The Dow gained 422.06 points, or 1.6%.
The Nasdaq added 73.64 points, or 0.9%.
The Russell 2000 picked up 72.97 points, or 4.9%.
For the year:
The S&P 500 is up 500.54 points, or 20%.
The Dow is up 3,892.06 points, or 16.7%.
The Nasdaq is up 1,541.44 points, or 23.2%.
The Russell 2000 is up 229.58 points, or 17%.
The Associated Press