U.S. stocks closed lower after a volatile week, with rising oil prices amid renewed Middle East tensions weighing on sentiment. Attention now shifts to the upcoming Federal Reserve meeting and a busy stretch of corporate earnings. The Nasdaq Composite briefly moved toward a gain on Friday but ended the session down 0.2%.
Middle East tensions add to oil-market uncertainty
A sharp rise in oil prices was a key backdrop to this week's market swings. Growing concern about possible renewed strikes involving the United States and Iran added uncertainty to energy markets and put pressure on equities. The available information does not specify the size of the oil-price move or the weekly performance of other major U.S. indexes, making it difficult to assess how sectors fared relative to one another.
For equity investors, geopolitical developments and energy prices are part of the same risk picture. But no specific effects on corporate costs, inflation expectations or individual stocks were detailed.
Nasdaq gives up an attempted rebound
The Nasdaq Composite tried to turn higher during Friday's session but finished down 0.2%. Buyers were not able to carry the index into the close in positive territory. Weekly index-level changes were not provided, nor were closing figures for the Dow Jones Industrial Average or the S&P 500.
Fed decision and earnings take focus
Investors are preparing for the next Federal Reserve meeting as companies begin reporting results in quick succession. The policy discussion and corporate data will arrive at the same time, although no details were provided on the meeting outcome, the companies reporting or earnings expectations. Near-term attention remains on the Fed's proceedings, company results and whether Middle East tensions and oil prices continue to shift.