Stocks Closed Higher, Led by Tech Gains

U.S. stocks closed higher on Friday, led by large gains in the tech sector, despite a mixed batch of second-quarter earnings from three major banks weighing on equities. The Dow Jones Industrial Average rose 84.65 points, or 0.39%, to 21,637.74. The S&P 500 added 11.44 points, or 0.47%, to 2,459.27. The Nasdaq Composite gained 38.03 points, or 0.61%, to 6,312.47. For the week, the Dow was up 1%, the S&P was up 1.4% and the Nasdaq was up 2.6%.

Oil scored a weekly gain of more than 5% on Friday, as reports of supply issues in Nigeria and a higher forecast for crude demand helped send prices up for a fifth session in a row. August West Texas Intermediate crude rose 46 cents, or 1%, to settle at $46.54 a barrel. It rose roughly 5.2% for the week. September Brent crude climbed 49 cents, or 1%, to $48.91 a barrel, with prices up about 4.7% from a week ago.