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U.S. Stocks Close Little Changed to Cap Best Weekly Gain in 2016

  • Applied Materials rally bolsters tech, crude weighs on energy
  • Cost of living excluding food, fuel rose by most since 2011
Bloomberg business news

S&P 500: The 1996-2006 Cyclical Malaise

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U.S. stocks closed little changed to finish the strongest weekly advance since November, with gains in technology and consumer shares offsetting declines among commodity producers amid a drop in crude oil.

Equities battled back from an opening selloff sparked by the slide in crude, erasing declines by late morning, though struggling to advance all day. Applied Materials Inc.’s 7.1 percent surge buoyed technology shares after it predicted sales this quarter that may beat analysts’ estimates. Inc. reversed losses, climbing 1.9 percent to help lead consumer shares higher. Boeing Co. fell for the first time in five days, losing 2.1 percent.