NEW YORK (Reuters) – Wall Street closed slightly higher on Friday, supported by technology stocks which helped the Nasdaq end four consecutive sessions of decline.
Gains were limited by cautious investors ahead of the release of inflation data on Wednesday.
The Dow Jones Industrial Average 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 just a small, short-lived rally,” 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 rising 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.
At specific values, the distributor Kroger took 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)
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