US stocks broke a five-day winning streak on Friday following a drop in the price of crude oil but gains were still solid for the week.
The Dow Jones industrial average lost 22 points to 9,605. The S&P500 Index slipped 1 point to 1,043 and the NASDAQ fell 3 points to 2,081.
In economic news: The US government reported that personal income remained flat in July versus a fall of 1.1% in June. Personal spending rose 0.2% in July after falling 1.1% in June.
And the Reuters/University of Michigan Surveys of Consumers found consumer sentiment rose to a revised 65.7 in August from a reading of 66 in July.
In company news: Intel (NASDAQ:INTC) shares fell 1.27% to $19.51 after the chipmaker boosted its revenue forecast for the third quarter, thanks to improved demand for PCs. The company says it expects sales of $8.8 billion to $9.2 billion.
Dell (NASDAQ:DELL) shares rose 0.24% to $16.60 after the PC maker reported weaker sales and earnings late Thursday that beat expectations.
Shares of Morgan Stanley (NYSE:MS) gained 0.63% to $28.82 after Citigroup raised its price target on the stock, which came a day after Morgan Stanley said its chief executive would be stepping down.
Medtronic (NYSE:MDT) shares slipped 2.85% to $37.90 after it said it was warning doctors about problems with 6,300 implantable heart devices because the batteries in the devices drain earlier than normal.
Checking the NASDAQ Top 100: Flir Systems made the most gains on Friday adding 4.53% to $25.85. J.B Hunt Transport Services and Wynn Resorts also advanced. On the downside, Steel Dynamics fell 4.03% to $17.14, while Linear Technology and Liberty Media also closed lower on Friday.
