Stocks end Friday's session little changed, Dow snaps 4-week win streak: Live updates - CNBC

The Dow Jones Industrial Average ended little changed Friday and finished lower for the week as investors evaluated the latest earnings results and concerns of disappointing profits.

The 30-stock index added 22.34 points, or 0.07%, to end at 33,808.96, while the S&P 500 eked out a 0.09% gain to settle at 4,133.52. The Nasdaq Composite rose 0.11% to close at 12,072.46.

All major indices finished the week in the red, with the Dow falling 0.23% to snap a four-week win streak. The tech-heavy Nasdaq saw the biggest decline, falling 0.42%, while the S&P slipped 0.1%.

"There's the continued push-pull of the fact that the economy has been a lot more resilient than many people expected and corporate earnings have held up pretty well, all things considered," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.

Even so, he noted that the Federal Reserve has raised rates substantially over the last year. Zaccarelli said that even if the central bank hikes as anticipated in May, it will likely hold rates at a higher level than the market expects.

"You can kind of see the the bull and bear case really right there in a nutshell as far as resilient economy with stronger-than-expected corporate earnings versus a very hot, very restrictive monetary policy coming from the Fed," he said.

Earnings season continued Friday, with results from Procter & Gamble. The consumer products company gained 3.5% after beating expectations and lifting it sales forecast. As of Friday morning, 76% of S&P 500 companies reporting earnings so far have beaten analyst EPS estimates, according to FactSet.

Elsewhere, materials stocks were the worst performers, with Freeport-McMoRan falling 4.1% after posting a year-over-year decline in its quarterly results. Albemarle tumbled 10% as Chile said it would nationalize its lithium industry.

While companies broadly beat expectations this week, overall profit reports failed to boost stocks, with some investors fearing an earnings drop looms with a likely recession ahead.

"So far, earnings season is off to an uneventful start, with many companies meeting already reduced earnings expectations and that helps to explain the lack of movement in the major stock indices over the past few days," said Carol Schleif, chief investment officer at BMO Family Office. She added that she expects stocks to trade in a tight range for some time.

Earnings continue next week with results on deck from Big Tech companies Amazon, Alphabet, Meta Platforms and Microsoft.