U.S. stocks closed higher Friday, with tech stocks leading. The Dow Jones industrial average failed to recover gains for the week after stocks fell amid renewed concerns of a rate hike sooner rather than later.
The Dow closed about 65 points higher, with IBM and Travelers contributing the most to gains. Information technology rose nearly 1.2 percent to lead nearly all S&P 500 sectors higher. The Nasdaq composite outperformed with gains of 1.2 percent, helped by gains in shares of Apple, Comcast and Applied Materials.
"It looks like the market is just kind of doing the rebound from all the Fed talk this week," said Chuck Self, CIO of iSectors. He noted some support for stocks from stabilization in oil prices.
Energy was the best S&P 500 performer on the week, with the broad index snapping a three-week losing streak. The Dow fell 0.2 percent for the week, for its first four-week losing streak since the one ended October 2014. (
) McDonald's, Boeing and 3M had the greatest negative impact on the index for the week.