The S&P 500 edged up 3.68 points to 7,411.98 on Friday, while the Dow rose 0.5% and the Nasdaq fell 0.6%, leaving all three major indexes down for the week.
Brent crude slid 3.9% to $96.78—its first drop in a week—and the 10-year Treasury yield eased to 4.68%, tempering some pressure from the escalating U.S.-Iran war.
Tech weakness kept gains in check as Micron sank 7% and Broadcom lost 2.7%, while American Express fell 4.3% despite reporting higher quarterly profit.
Fresh Trump tariffs on nearly all U.S. imports and higher energy costs are stoking inflation fears ahead of next week's Fed meeting, with markets pricing in at least one rate hike this year and a 38% chance next week.