U.S. stocks finished lower on Friday, but still managed to notch their first weekly gain in three weeks and largest in two months, as President Donald Trump said he’d soon release his long-anticipated tax-reform plan. Stocks moved off their session lows after Trump’s announcement, with the S&P 500 index
shedding 7.13 points, or 0.3%, to 2,348.70, while the Dow Jones Industrial Average
fell 30.95 points, or 0.2%, to 20,547.76. The Nasdaq Composite Index
was off 6.26 points, or 0.1%, to 5,910.52. Strong corporate earnings helped support stocks, offsetting anxieties surrounding Sunday’s first-round vote in the French presidential election. Schlumberger Ltd.
shares skidded after the oilfield-services company’s quarterly revenue missed Wall Street expectations. Shares of Mattel Inc.
also slumped after the company’s earnings disappointed. In other markets, oil prices
fell 2.4%, capping off a weekly drop of roughly 7%.