WALL STREET LOSES GROUND UNDER PRESSURE FROM RISING OIL PRICES

What happened: Wall Street closed broadly lower Friday as oil prices reached a four-year high, with the S&P 500 posting its second straight weekly loss. Key numbers: S&P 500 fell 0.5% to 7,623.68; Dow fell 1.2% to 52,215.16; Nasdaq slipped 0.2% to 25,955.34; Brent crude rose 3.1% to $116.72; 10-year Treasury yield rose to 4.99%. Why it matters: Rising oil prices weighed on most stocks, while AI-related shares rallied. Investors are focused on AI economics and upcoming earnings from Alphabet, Microsoft and Amazon, with the Fed expected to hold rates next week.

Wall Street closed broadly lower Friday as oil prices reached a four-year high, with the S&P 500 posting its second straight weekly loss.

Rising oil prices weighed on most stocks, while AI-related shares rallied. Investors are focused on AI economics and upcoming earnings from Alphabet, Microsoft and Amazon, with the Fed expected to hold rates next week.