Investing.com - U.S. stocks finished Friday higher, mainly on the coattails of energy stocks bolstered by higher crude prices, although concerns of a Chinese slowdown and weak economic news at home tempered spirits.
The Dow Jones Industrial Average closed up 0.27% on Friday, the S&P 500 index was up 0.31% while the Nasdaq Composite index finished up 0.15%.
Oil prices have been rising for months, spiking even higher on Friday on reports Iranian exports are falling, as more and more buyers look elsewhere for crude in line with sanctions against the country for its nuclear program.
Energy and energy-related companies fared well, helping erase earlier losses sustained during the week, although weak housing data in the U.S. cooled the rally.
The Commerce Department reported that new single-family home sales fell 1.6% percent to a seasonally adjusted 313,000-unit annual rate in the U.S. last month.
January's figures were revised down to 318,000 units from a previous 321,000 reading.
The news came fresh on the heels of a National Association of Realtors report that total existing-home sales slipped 0.9% to a seasonally adjusted annual rate of 4.59 million in February.
Furthermore, concerns that China's economy may grow at a slower clip than once expected tempered gains as well.
Apple shares were briefly halted on a technical glitch but resume trading shortly afterwards.
Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 2.61%, Bank of America, up 2.50%, and Caterpillar, up 1.36%.
Leading index losers included Verizon, down 0.55%, AT&T, down 0.54%, and United Technologies, down 0.32%.
European indices, meanwhile, were mixed.
After the close of European trade, the EURO STOXX 50 fell 0.19%, France's CAC 40 rose 0.11%, while Germany's DAX 30 finished up 0.21%. Meanwhile, in the U.K. the FTSE 100 closed up 0.16%.
On Monday in the U.S., pending home sales will be released.
The Dow Jones Industrial Average closed up 0.27% on Friday, the S&P 500 index was up 0.31% while the Nasdaq Composite index finished up 0.15%.
Oil prices have been rising for months, spiking even higher on Friday on reports Iranian exports are falling, as more and more buyers look elsewhere for crude in line with sanctions against the country for its nuclear program.
Energy and energy-related companies fared well, helping erase earlier losses sustained during the week, although weak housing data in the U.S. cooled the rally.
The Commerce Department reported that new single-family home sales fell 1.6% percent to a seasonally adjusted 313,000-unit annual rate in the U.S. last month.
January's figures were revised down to 318,000 units from a previous 321,000 reading.
The news came fresh on the heels of a National Association of Realtors report that total existing-home sales slipped 0.9% to a seasonally adjusted annual rate of 4.59 million in February.
Furthermore, concerns that China's economy may grow at a slower clip than once expected tempered gains as well.
Apple shares were briefly halted on a technical glitch but resume trading shortly afterwards.
Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 2.61%, Bank of America, up 2.50%, and Caterpillar, up 1.36%.
Leading index losers included Verizon, down 0.55%, AT&T, down 0.54%, and United Technologies, down 0.32%.
European indices, meanwhile, were mixed.
After the close of European trade, the EURO STOXX 50 fell 0.19%, France's CAC 40 rose 0.11%, while Germany's DAX 30 finished up 0.21%. Meanwhile, in the U.K. the FTSE 100 closed up 0.16%.
On Monday in the U.S., pending home sales will be released.