Stocks Closed Lower, Dragged by GE

U.S. stocks closed lower on Friday, with the Dow industrials finishing lower for the week, as General Electric Co.’s outlook cast a cloud over earnings season. The Dow Jones Industrial Average fell 31.71 points, or 0.15%, to 21,580.07. For the week, the Dow finished 0.3% lower, snapping a two-week win streak. The S&P 500 declined 0.91 point, or 0.04%, to 2,472.54. The index logged a 0.5% gain for the week, for a third week of gains. The Nasdaq Composite was down 2.25 points, or 0.04%, to 6,387.75. The tech-heavy index finished up 1.2% for the week for a third week of gains.

Oil ended at its lowest level in a bout a week on Friday, with expectations for a rise in OPEC output pressuring prices ahead of coming meeting of major producers. September West Texas Intermediate crude lost $1.15, or 2.5%, to settle at $45.77 a barrel. September Brent crude fell $1.24, or 2.5%, to $48.06 a barrel.

Shares of General Electric Co. tumbled to the lowest level seen in nearly two years on Friday, as outgoing Chief Executive Jeff Immelt ended his reign of the industrial conglomerate with a downbeat outlook.

Plug Power Inc. (PLUG) announced that it is issuing to Wal-Mart Stores Inc. (WMT) warrants to buy 55.3 million of its shares. The deal is part of an existing commercial agreement between the two companies under which Wal-Mart buys Plug Power’s fuel-cell powered machines for its distribution centers.