U.S. equities were mixed on Friday following a three-day rally for the S&P 500 that put the equity benchmark on pace for its biggest weekly gain in more than a year.
The Dow Jones Industrials dropped 103.75 points to kick off Friday at 34,377.01
The S&P 500 eked up 0.76 points to 4,412.43.
The NASDAQ Composite jumped 89.31 points to 13,704.09.
Stocks are coming off a massive three-day surge that has put the S&P 500 on pace for its biggest weekly gain since November 2020. The broader market index is up more than 4% for the week. The tech-heavy NASDAQ Composite is up more than 5% this week, and it's headed for its best week since February 2021.
The blue-chip Dow is coming off a four-day winning streak, rising 4.3% for the week, and is also on pace for its biggest weekly gain since November 2020.
On Friday shares of FedEx fell more than 5% after the U.S. delivery firm posted a lower-than-expected quarterly profit amid labor shortages, while the pandemic also hurt its holiday revenue growth.
GameStop saw its shares dropping about 2% after the video game retailer reported an unexpected loss during the holiday quarter. The company said it will launch a new marketplace for non-fungible tokens, or NFTs, by the end of April.
Friday's moves come as traders continued to digest the latest developments in the Ukraine-Russia war.
Several missiles hit an aircraft repair center on the outskirts Lviv in western Ukraine. Meanwhile, U.S. President Joe Biden is slated to speak with Chinese President Xi Jinping to discuss the conflict. A Ukrainian official also said one person was killed in an airstrike that hit Kyiv.
Treasury prices gained ground, dropping yields to 2.15% from Thursday's 2.20%. Treasury prices and yields move in opposite directions.
Oil prices gained 76 cents to $103.74 U.S. a barrel.
Gold prices fell $9.80 to $1,933.40 U.S. an ounce.
S&P Heads for Best Week Since ‘20