Stocks Closed Slightly Lower, Booked Weekly Gains

U.S. stocks closed slightly lower on Friday in low trading volume, but still finished the week with modest gains. The Dow Jones Industrial Average fell 28.23 points, or 0.11%, to 24,754.06. The S&P 500 lost 1.23 points, or 0.05%, to 2,683.34. The Nasdaq Composite dropped 5.40 points, or 0.08%, to 6,959.96. For the week, the Dow gained 0.4%, the S&P 500 added 0.3% and the Nasdaq booked 0.3% gain.

Oil futures erased modest losses Friday to end with gains after data showed the number of U.S. oil rigs remained steady this week. West Texas Intermediate crude for February delivery rose 11 cents, or 0.2%, to settle at $58.47 a barrel and posted a 2% rise for the week. February Brent crude rose 35 cents, or 0.5%, to end at $65.25 a barrel, marking a 3.2% weekly advance.