U.S. stocks rise after three-day slide; tech shares gain

USA stocks ended higher on Friday, snapping three days of losses, as investors bet on a slower U.S. rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.

USA equity traders grown accustomed to docile markets were shaken awake as tension over North Korea escalated, sending the S&P 500 to the largest weekly drop since March.

He said it is "a bullish sign that the equity markets are rebounding somewhat on a Friday, in spite of the fact that investors will need to wait for two days to react to any geopolitical news that comes out over the weekend".

The Dow Jones industrial average declined 234.49 points to 21,858.32.

Robert Phipps, a director at Per Stirling Capital Management LLC in Austin, Texas, said he was reassured after Dallas Fed President Rob Kaplan said the Fed needs evidence of progress toward its inflation goal before raising rates. They yielded 1.05 percent and 1.14 percent in when-issued trading.

The tech-heavy Nasdaq composite index ended the week 1.5 percent lower at 6,256.56, including a 2.1 percent plunge Thursday, as President Trump delivered a warning to North Korean leader Kim Jong Un that the United States would respond to any further aggression.

The S&P 500 gained 0.13% to end at 2,441.32 with information technology rising 0.75% to lead advancers.

However, the S&P Bank sub-sector fell 0.7 percent on dimming prospects of another rate hike this year since higher rates tend to boost bank profits.

Shares of Snap were down nearly 12 percent after hitting an all-time low following a miss on revenue and daily active users.

J.C. Penney was down 17 percent after hitting a record low following the retailer's bigger-than-expected quarterly loss.

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