A dismal earnings report from social media name Snap (SNAP) put an end to the tech sector's recent rally on Friday. All three major benchmarks snapped their three-day win streaks as a result, with the Dow losing 137 points as the S&P 500 and Nasdaq settled deep in the red as well. For the week, however, the three indexes still logged healthy gains. Also hurting stocks was the preliminary Purchasing Managers' Index (PMI) Composite output index, which came in at 47.5 for its lowest reading in more than two years. Meanwhile, the Cboe Volatility Index (VIX) logged its fifth-straight weekly loss.

The Dow Jones Average (DJI - 31,899.29) shed 137.6 points or 0.4% for the day but still gained 2% for the week. American Express (AXP) led the gainers, adding 1.9%, and Verizon Communications (VZ) paced the losers, shedding 6.7%.

The S&P 500 Index (SPX - 3,961.63) lost 37.3 points or 0.9% for the day, and added 2.6% for the week. Meanwhile, the Nasdaq Composite (IXIC - 11,834.11) fell 225.5 points, or 1.9% for the session, and tacked on 3.3% for the week.

Lastly, the Cboe Market Volatility Index (VIX - 23.03) lost 0.08 points or 0.4% for the day, and 5% for the week.

GOLD PRICES SNAP 5-WEEK LOSING STREAK

While oil prices logged a modest 0.1% rise for the week, black gold finished lower on Friday. The commodity slipped below the psychologically significant $100 level, due to softening demand for gasoline. September-dated crude lost $1.65, or 1.7%, to finish at $94.70 per barrel on the day.

Gold prices logged a weekly win of 1.4%, snapping a five-week losing streak. Prices also settled at their highest level since July 13, as the U.S. dollar weakened. August-dated gold added $14, or 0.8%, to close at $1,727.40 an ounce on the day.

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