Technology stocks were doing the heavy lifting for the broader market. Most stocks within the S&P 500 were losing ground, but several big technology stocks made strong gains and countered losses elsewhere.
Nvidia rose 1.3% and Broadcom rose 1.8%. They are among several Big Tech companies with outsized valuations that often push the market higher or lower.
A handful of regional U.S. banks reported their earnings following mixed reports from their larger peers. Pittsburgh’s PNC jumped 3.8% after it beat Wall Street’s fourth-quarter targets, but Regions Financial fell 2.9% after reporting results that missed forecasts.
Outside of the banking sector, transport company J.B. Hunt Transport Services fell 1.5% after reporting mixed quarterly financial results.
Crude oil prices rose after dropping sharply on Thursday. The price of U.S. crude oil rose 1% to $59.76 and the price of Brent crude, the international standard, rose 1% to $64.39.
Treasury yields moved higher in the bond market. The yield on the 10-year Treasury rose to 4.19% from 4.17% late Thursday.
European markets fell, and markets in Asia were mixed. Taiwan's benchmark index rose 1.9% after its government signed a trade deal with the U.S. China, which claims the self-governed island as its own territory, protested the agreement.