Stocks wobble, but finish week ahead

Stocks wobbled to a mixed close on Wall Street on Friday, but every major index notched weekly gains in a holiday-shortened week.

Investors faced a relatively quiet day, though concerns about inflation, high interest rates and a potential recession still hover over Wall Street. Markets were closed Thursday for the Thanksgiving holiday and closed at 1 p.m. Friday.

The S& P 500 fell 1.14 points, or less than 0.1%, to close at 4,026.12. Nearly 70% of stocks in the benchmark index gained ground, but the broader market was dragged lower by technology companies.

The Dow Jones Industrial Average rose 152.97 points, or 0.4%, to 34,347.03. The Nasdaq fell 58.96 points, or 0.5%, to 11,226.36.

U.S. crude oil prices fell and weighed down energy stocks.

Airlines and other travelrelated companies gained ground as the busy holiday travel season kicks in. United Airlines rose 1.7%.

Long-term bond yields were relatively stable but still hovered around multidecade highs. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.70% from 3.69% late Wednesday.

Investors remain concerned about whether the Federal Reserve can tame the hottest inflation in decades by raising interest rates without going too far and causing a recession. The central bank’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March.