Stocks ended mixed Friday as sliding crude oil prices weighed, but the major market indexes posted their biggest weekly gain so far this year.
The Nasdaq climbed 0.4% Friday, the S&P 500 was flat, and the Dow Jones industrial average slipped 0.1%. Volume was mixed -- slightly lower on the Nasdaq and a shade higher on the NYSE -- according to preliminary figures. Winners topped losers by a 7-to-5 ratio on the Nasdaq, but decliners outpaced advancers by a narrow margin on the NYSE.
The tech-heavy Nasdaq rose 4% for the week, while the S&P 500 and Dow each gained nearly 3%, according to preliminary data. Earnings reports and higher oil prices earlier in the week contributed to the rise.
But oil, retail and solar stocks lagged Friday, as West Texas Intermediate crude prices fell about 3% to below $30 a barrel for the first slide in three days, according to initial data.
Software, beverage and hotel stocks outperformed. Online travel agents also booked a good day, rising 2%. Priceline Group (PCLN) added 2.6% in fast trade, extending its gains for a seventh straight session. Shares soared 21% for the week, aided by an 11% jump Wednesday after the travel site's Q4 results beat views. The stock is 13% off its high.
Among IBD 50 stocks, Ellie Mae (ELLI) led with a more-than-3% jump, moving closer to an 83.02 buy point. The electronic mortgage services provider has an A- Accumulation/Distribution Rating, which indicates mutual funds are recent net buyers of shares. Its Relative Strength line is at a new high, a bullish sign.
The biggest IBD 50 decliner was Six Flags Entertainment (SIX). Shares of the theme park operator reversed lower and fell 2.5%, closing right at their 50-day moving average. The stock has been consolidating for seven weeks.
Economic data due out Monday include the Manufacturing Purchasing Manager's Index flash reading for February and the Chicago Fed's January National Activity Index.
Notable companies delivering quarterly results next week include Baidu (BIDU), Domino's Pizza (DPZ), Foot Locker (FL) and NetEase (NTES).
