Wall Street closed almost unchanged on Friday in a choppy session ahead of a long weekend, although all three indexes posted losses for the week.
Shares of chipmakers rose, and a semiconductor index extended Thursday’s gains.
Big banks posted mostly solid results this week, but financial stocks were pressured by concerns about US President Donald Trump’s proposal to cap credit card interest rates at 10% for a year.
Investors also digested news that Trump said he might want to keep economic adviser Kevin Hassett in his current role, reducing bets that Hassett will succeed Federal Reserve Chairman Jerome Powell.
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According to preliminary closing data, the S&P 500 lost 5.01 points, or 0.07%, to 6,939.46 points; while the Nasdaq Composite lost 15.60 points, or 0.07%, to 23,514.42 units. The Dow Jones fell 87.13 points, or 0.18%, to 49,355.31 points. All three indices ended the week lower.
Earnings season will heat up next week, with heavyweights like Netflix, Johnson & Johnson and Intel reporting.
Investors were cautious about making big bets ahead of the long weekend, with stocks closed on Monday for the Martin Luther King Jr. holiday.
With information from Reuters
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