NEW YORK (Reuters) – Wall Street closed slightly higher on Friday, supported by technology stocks which allowed the Nasdaq to end four consecutive sessions of decline.
Gains were limited by investor caution ahead of the release of inflation data on Wednesday.
The Dow Jones index gained 0.22%, or 75.86 points, to 34,576.59 points.
The broader S&P-500 gained 6.35 points, or 0.14%, to 4,457.49
The Nasdaq Composite rose 12.69 points (0.09%) to 13,761.53 points.
Over the past week, the S&P has fallen by 1.29%, the Dow Jones by 0.75% and the Nasdaq by 1.93%.
The rise in tech stocks was aided by falling Treasury yields.
“It’s only a small, short-lived recovery,” said Kenny Polcari, strategist at Slatestone Wealth in Florida, “after three or four days of real pressure on the market because of the information from China on Apple and the rise in oil prices.
Apple stock fell sharply this week following reports that China, one of its largest markets, expanded restrictions on iPhone use by government personnel.
Oil prices rose as Saudi Arabia and Russia decided to cut production for longer.
In particular stocks, the distributor Kroger gained 3.09% after announcing a quarterly profit above expectations.
Gamestop fell 6.2% after an article in the Wall Street Journal according to which the SEC, the American stock market watchdog, is investigating its president, billionaire Royan Cohen.
(Written by Jean-Stéphane Brosse)
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