U.S. stocks finished mixed Friday as the benchmark 10-year Treasury yield moved above 5%, increasing pressure on rate-sensitive parts of the market. Reuters reported that the Nasdaq held up better than the S&P 500 and Dow as semiconductor shares strengthened.
Oil prices remained above $100 a barrel, keeping inflation concerns near the center of investor attention. The Federal Reserve recently raised its benchmark rate, and markets are now watching incoming inflation and growth data for clues about whether borrowing costs could move higher again.
The combination of higher energy prices and higher yields has raised financing costs for households and businesses. Technology was among the stronger areas of the market Friday, while several defensive and rate-sensitive sectors lagged.