U.S. stocks closed out a healthy week of gains in negative territory Friday as a retreat in crude-oil prices weighed on energy shares ahead of a key meeting of major oil producers slated for Sunday in Doha, Qatar. Uncertainty about the outcome of the meeting of members of the Organization of the Petroleum Exporting Countries and non-OPEC members, which could set the tone for crude futures, put a cap on upbeat sentiment over corporate results that have so far proved better than expected. The Dow Jones Industrial Average closed off 29 points, or 0.2%, to end at 17,896, while the S&P 500 index ended 2 points, or 0.1%, lower at 2,080. Shares of Apple Inc. led the Dow industrials lower, off 2%, after a report in Saturday's edition of Japan's Nikkei newspaper said demand for iPhones is lagging--the slide weighed on technology stocks, which were down 0.5%. The Nasdaq Composite index closed down 7 points, or 0.2% at 4,938. Energy stocks topped the S&P 500's sector laggards, closing off 1.3%. West Texas Intermediate crude , fell $1.14, or 2.8%, to settle at $40.36 a barrel. On the week, the Dow scored its best weekly gain, up 1.8%, since March 18. The S&P 500 registered a 1.6% weekly gain, while the Nasdaq was up 1.8% on the week.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below