Stocks closed lower on Wall Street as the first week of corporate earnings season ended with major indexes trading near record levels. The S&P 500 fell 0.1%, the Dow Jones fell 0.2%, and the Nasdaq fell 0.1%, all recording weekly losses. Smaller company stocks fared better, with the Russell 2000 up 0.1% for the day and 2% for the week.

Technology stocks, including Broadcom and Micron Technology, made strong gains, offsetting losses in other sectors. Regional U.S. banks like PNC and Regions Financial reported mixed earnings results, while transport company J.B. Hunt Transport Services saw a 1% decline after its financial report.

Investors are closely watching earnings reports to gauge consumer spending and business operations amidst economic concerns like inflation and tariffs. Wall Street may experience volatility in the coming weeks as geopolitical tensions persist. Next week, earnings from airlines, industrial companies, and tech firms like United Airlines, 3M, and Intel will be scrutinized.

Crude oil prices rose slightly after a drop on Thursday, with U.S. crude up 0.4% and Brent crude up 0.6%. Gold prices fell 0.6% but remain up over 5% for January. Treasury yields rose, with the 10-year yield at 4.23%. The Federal Reserve’s upcoming policy meeting will focus on balancing a slowing job market and high inflation.

European markets fell, while Asian markets were mixed. Taiwan’s index rose 1.9% after signing a trade deal with the U.S., sparking protests from China. Canada made a tariff deal with China, shifting partnerships due to trade war uncertainty. Tesla and Rivian stocks fell as a result.

Read more at Yahoo Finance: Stocks edge a bit below their latest records on Wall Street