US stocks end lower as energy stocks slump on earnings


U.S. stocks are closing with small losses, as a big drop in energy stocks offsets gains in other parts of the market.

The Standard & Poor’s 500 fell four points, or 0.2 percent, to 2,103 on Friday.

The Dow Jones industrial average dropped 55 points, or 0.3 percent, to 17,690. The Nasdaq was little changed 5,128.

Shares of Exxon Mobil and Chevron, the two largest publicly traded energy companies, fell roughly 5 percent each after both companies reported slumping profits.

Bond prices rose after a report showed that U.S. wages and benefits grew in the spring at the slowest pace in 33 years.

The yield on the 10-year Treasury note fell to 2.19 percent from 2.26 percent on Thursday.

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