Energy, defensive sectors counter megacap declines


The S&P 500 lost 0.65 points, or 0.01%, to 4,369.71, the Nasdaq dropped 26.16 points, or 0.2%, to 13,290.78 and the Dow rose 25.83 points, or 0.07%, to 34,500.66 points.

NEW YORK: The S&P 500 ended nearly flat on Friday as gains in defensive sectors and energy offset weakness in megacap growth stocks, while investors looked toward next week's speech by Federal Reserve chair Jerome Powell.

Megacap technology-related growth stocks dipped, with Alphabet down 1.9% and Tesla falling 1.7%, as investors fretted that interest rates could stay higher for longer.

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