Higher commodity prices drove a bid for materials and energy stocks in an otherwise lackluster session on Friday, ahead of the start of the corporate earnings season, seen as the next catalyst to drive stocks higher. Stocks have traded in a tight range, running into resistance at elevated levels this week. Volume has been low as investors hold off making big bets before companies report their quarterly results.
Chevron Corp, up 0.9 percent to $109.65, was the biggest boost to the Dow industrials. Among miners Freeport McMoRan Copper & Gold rose 1.2 percent to $58.10 The Dow Jones industrial average dropped 5.14 points, or 0.04 percent, to 12,404.35. The Standard & Poor's 500 Index fell 0.15 points, or 0.01 percent, to 1,333.36. The Nasdaq Composite Index lost 1.77 points, or 0.06 percent, to 2,794.37.