Stocks closed Friday on Wall Street mixed, but major indices all posted weekly gains. The S&P 500 fell on Friday. The Dow Jones Industrial Average rose and the Nasdaq fell. Technology stocks were the biggest drag on the broader market. The markets were closed Thursday for the Thanksgiving holiday and closed at 1 p.m. on Easter Friday. Long-term bond yields rose slightly. Crude oil prices remained stable. Global stocks were mixed amid concerns over China’s lockdowns and restrictions to curb the spread of coronavirus infections.

THIS IS A BREAKING NEWS UPDATE. AP’s past story appears below.

Stocks teetered on Wall Street in uncertain Friday trading, but major indices are on track to post weekly gains.

The S&P 500 was up 0.1% as of 11:31 a.m. Eastern. The Dow Jones Industrial Average rose 162 points, or 0.5%, to 34,355 and the Nasdaq fell 0.5%.

More than half of the stocks in the benchmark S&P 500 index gained ground, but losses by some big tech companies weighed on the broader market. High valuations for companies in the technology sector tend to give them more weight to push the market up or down.

Apple fell 2.2%.

Major indices are all heading for weekly gains after a bumpy but short week. The markets were closed on Thursday for the Thanksgiving holiday and close at 1:00 p.m. on Easter Friday.

Markets in Asia and Europe were mixed and crude oil prices were relatively stable.

Long-term bond yields rose slightly. The 10-year Treasury yield, which drives mortgage rates, rose to 3.72% from 3.69% late Wednesday.

Investors are in for a relatively calm day, although worries about inflation, high interest rates and a possible recession still linger on Wall Street.

Investors’ biggest concern has been whether the Federal Reserve can tame the hottest inflation in decades by raising interest rates without going too far and triggering a recession. The central bank’s policy rate is currently between 3.75% and 4%, up from near zero in March. It warns that it may eventually have to raise interest rates to previously unexpected levels to stem high prices for everything from food to clothing.

Minutes from the Fed’s most recent monetary policy meeting, released Wednesday, show officials agreed that smaller rate hikes “soon” would likely be appropriate. This was welcomed by investors who fear continued aggressive rate hikes could slow down an already struggling economy too much.

Investors are also eyeing China’s lockdowns and restrictions to curb the spread of coronavirus infections, as the direction China takes will impact the rest of Asia and global supply chains.

China has expanded pandemic lockdowns, including in a city where factory workers making Apple’s iPhone clashed with police this week as the number of COVID-19 cases hit a single-day record.

Wall Street gets several big economic updates next week. The Conference Board’s business group is due to release its November consumer confidence report, which could give investors more insight into how consumers are dealing with inflation. The US government also releases its closely watched monthly employment report.


Yuri Kageyama contributed to this report.

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