NEW YORK (Reuters) – Wall Street closed marginally higher on Friday, buoyed by technology stocks that helped the Nasdaq end four straight 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 fell by 1.29%, the Dow Jones by 0.75% and the Nasdaq by 1.93%.
The rise in technology stocks was helped by falling Treasury yields.
“It’s just a small, short-lived recovery,” said Kenny Polcari, strategist at Slatestone Wealth in Florida, “after three or four days of real market pressure from China’s news about Apple. and the rise in oil prices.
Apple stock fell sharply this week following reports that China, one of its biggest markets, has 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 a Wall Street Journal report that the SEC, America’s stock market watchdog, is investigating its chairman, billionaire Royan Cohen.
(Written by Jean-Stéphane Brosse)
Copyright © 2023 Thomson Reuters