Stocks Closed Lower as Fed Rate-hike Debate Raged

U.S. stocks closed lower on Friday, as investors worried about whether the Federal Reserve will raise interest rates as early as September. The Dow Jones Industrial Average declined 45.13 points, or 0.24%, to 18,552.57, for a weekly decline of 0.1%. The S&P 500 fell 3.15 points, or 0.41%, to 2,183.87, for a weekly decline of less than 0.1%. The Nasdaq Composite shed 1.77 points, or 0.03%, to 5,238.38, for a weekly rise of 0.1% and an eighth straight week of gains.

Oil futures put up modest moves on Friday, with West Texas Intermediate crude logging its best weekly performance in more than five months as traders held on to expectations that major oil producers could soon make a move to stabilize the market. September WTI crude added 30 cents, or 0.6%, to settle at $48.52 a barrel. October Brent crude fell a penny to settle at $50.88 a barrel. It still gained about 8.3% for the week.

Amtrak is naming Norfolk Southern Corp. NSC -0.05 % veteran Charles “Wick” Moorman as its next chief executive as the national passenger railroad confronts big projects amid growing demand.

General Motors Co.’s Opel unit is paring back the hours of German factory workers in a move aimed at blunting the impact of Brexit and breaking even in Europe for the first time in nearly two decades.