Company: Schlumberger Ltd

Stocks closed in negative territory Thursday, on track to log its worst week this year, as economic concerns over China and the euro zone overshadowed a better-than-expected jobless claims report.

To capitalize on the higher gas price, CNBC’s Jim Cramer says, oil and gas drilling companies are shifting away from natural gas and focusing more on oil. In turn, they are exploiting their reserves and increasing their outputs. The Lundberg Survey suggests the price of gas isn’t likely to fall anytime soon, so Cramer thinks these companies may enjoy increased profits for some time.

Stocks ended in the red Wednesday in thin trading amid ongoing concerns over the euro zone debt crisis and as investors took a breather following the strong run-up that propelled major averages to multi-year highs.

Stocks ended mixed in a quiet session Friday as investors were reluctant to jump in ahead of a weekend and after a handful of weak earnings reports weighed on sentiment. Despite the lackluster session, stocks still capped a strong finish for the week, with all three major averages adding almost two percent each.

US stock index futures turned lower Friday as investors kept a close watch on Greece as the debt-ridden nation remains in talks with private creditors over a haircut on some of its bonds and after GE's revenue missed forecast.