U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.
Gains in technology and consumer goods companies outweighed losses in financial stocks and retailers as investors continued to size up the latest batch of quarterly corporate snapshots.
Prior to a late-afternoon flurry of buying, the market had been on pace to finish lower as investors hit pause following a tumultuous two months where the index followed up its worst December since 1931 with its best January in three decades.
"Earnings are coming in good — we're seeing over 15 percent growth — but there are some concerns about the next quarter that growth is going to be pretty close to zero," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.
The S&P 500 rose 1.83 points, or 0.1 percent, to 2,707.88. The Dow Jones Industrial Average lost 63.20 points, or 0.3 percent, to 25,106.33.
The Nasdaq composite added 9.85 points, or 0.1 percent, to 7,298.20. The Russell 2000 index of smaller companies picked up 0.77 points, or 0.1 percent, to 1,506.39. Major stock indexes in Europe finished lower.
Traders have been worried about predicted slowdowns in economies around the world, with trade tensions between the United States and China adding to the strain.
It hasn't been all bad news, however. Companies have been reporting better-than-expected earnings for the last three months of 2018, and the Federal Reserve has indicated it will take a more patient approach to raising interest rates.
Technology stocks drove much of the market's late-day recovery Friday, with Motorola Solutions leading the pack. The stock vaulted 14.1 percent.
Financial stocks took some of the heaviest losses and were hurt by a drop in interest rates, which can limit the profits they make from lending money. Morgan Stanley slid 1.6 percent.
Treasury yields fell as investors continued to seek out safer areas of the market given all the economic and profit concerns. Treasury yields fall when prices for the bonds rise.
The yield on the 10-year Treasury note dropped to 2.63 percent from 2.65 percent late Thursday. It had been above 3 percent as recently as December.
Unless American and Chinese negotiators come to a new agreement, the U.S. is expected to raise import taxes from 10 percent to 25 percent for $200 billion in Chinese goods. The trade dispute between the world's two largest economies, which has cooled in recent months, has weighed on the outlook of businesses and the global economy.
Trump's announcement weighed on markets around the world, and indexes in Europe and Asia mostly fell.