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US stocks were mixed on Friday, following a steep drop in large-cap technology stocks in the previous session, with traders turning their attention to the Federal Reserve’s policy meeting next week and a wave of corporate results.
Wall Street’s benchmark S&P 500 made fractional gains on Friday, led by defensive sectors such as healthcare, consumer staples and utilities. It advanced 0.7 per cent across five sessions, its second straight week of gains. The tech-focused Nasdaq Composite lost 0.2 per cent on the day, and was 0.6 per cent lower for the week.
The moves came a day after technology stocks sold off sharply across the US and Europe, as earnings reports by industry heavyweights Tesla and Netflix failed to impress investors. A warning on Thursday from the world’s biggest contract chipmaker —…
