Investing.com -- U.S. stocks were mixed on Friday after an inflation report that came in mostly as expected and as tech stocks tried to regain some ground after a sharp sell off on Thursday.
The broad-based S&P closed 1.2% lower, off 2% for the week, while the blue chip Dow dropped 0.8%, its sixth negative session in seven, set for a weekly loss of 1%., rose 3.4% as expected for the year and 0.4% for the month, while the core PCE, which strips out fuel and energy prices, rose 3.7% for the year and 0.3% for the month.
These positive results have boosted overall confidence at the end of what has been a difficult week on Wall Street.) missed expectations as results compared unfavorably to last year's record earnings. Chevron reported earnings of $3.05 a share on revenue of $54 billion, while Exxon reported earnings of $2.27 a share on revenue of $90.7 billion. Shares of Chevron fell more than 5%, while Exxon shares were down 1.7%.
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