Wall Street ended flat; tech stocks came under pressure

Wall Street ended friday trade flat. But, it was a good weekly close for the markets with benchmark indices ending with almost 4% gains. Both the Dow Jones and S&P 500 reversed early losses to finish with modest gains. The Nasdaq logged its first loss in more than two weeks as tech stocks came under pressure. Its decline put an end to its 12-session streak of gains.

This has been a landmark week for the Dow. It crossed 9,000 for the first time since January and gained 12% in a two-week run, a feat it hasn’t achieved since 2000.

At the close, both the Dow Jones was up 23.95 points, or 0.26%, to 9,093.24. and the S&P 500 gained 2.97 points, or 0.30%, to 979.26., while the Nasdaq shed 7.64 points, or 0.39%, to 1,965.96.

Crude climbed to a three-week high on optimism that the US economy is strengthening and that fuel consumption will rebound later this year. Oil increased 7.1 percent this week, the biggest gain since may, as corporate earnings came better-than-expected.

Copper prices fell from a nine-month high as US consumer confidence dropped for the first time in five months, signaling a rebound in commodity demand may falter.

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