Stocks Ended Mostly Higher, Oil Rallied

U.S. stocks closed modestly higher on Friday, but steep losses in technology and health-cares stocks earlier in the week resulted in poor weekly performance for the S&P 500 and Nasdaq. The Dow Jones Industrial Average advanced 62.60 points, or 0.29%, to 21,349.63, ending the week 0.2% lower. It gained 1.6% over the month. The S&P 500 rose 3.71 points, or 0.15%, to 2,423.41, but ended the week 0.6% lower. Over the month, the S&P 500 gained 0.5%. The Nasdaq Composite was down 3.93 points, or 0.06%, to 6,140.42. It booked a 2% weekly and 0.9% monthly loss.

Oil prices rallied Friday to register a seventh-straight session gain, as data showing the first decline in the number of active U.S. oil rigs in 24 weeks fed expectations for further reductions in crude production. August WTI crude rose $1.11, or 2.5%, to settle at $46.04 a barrel. August Brent crude rose 50 cents, or 1.1%, to $47.92 a barrel.