U.S. stocks closed narrowly mixed Friday as health care stocks recovered most of their losses. The Dow closed out its second consecutive week of gains, up 0.4 percent on the week.
Health care stocks, which were one of the worst performers in the S&P 500 earlier in the day, climbed more than half a percent from session lows to close up 0.08 percent. Top gainers in the health care sector included Medicaid insurer Centene and hospital operators.
The move in biotech and pharmaceutical stocks came after Sen. John McCain, R-Ariz., on Friday said he "cannot in good conscience vote for the Graham Cassidy proposal.
McCain is one of four Republican senators who are undecided on the GOP healthcare overhaul, and his opposition dealt the bill's chances a significant blow.
The Dow Jones industrial average moved off earlier lows, closing down 9.64 points to settle at 22,349.59, with Apple continuing to add to its weekly decline and UnitedHealth leading the decliners. Shares of the iPhone maker had their worst week since April 2016 on the heels of the release of several new products, which launched in stores Friday. The stock remains 31 percent higher for the year.
The S&P 500 closed 0.06 percent higher to finish at 2,502.22, with health care and energy moving higher. Telecommunications led gainers, with news of a potential merger between Sprint and T-Mobile, giving analysts reason to believe the combined company reduces competition among major providers. Verizon shares gained more than 2 percent on the day.
Energy was the second best performing sector on the day.