Stocks fell Friday, ahead of a three-day holiday
weekend, as investors eyed higher oil and gas prices and geared up for the
existing home sales report, due shortly.
All financial markets
are closed Monday for Memorial Day.
Stocks rose Thursday, halting a two-session
losing streak, as oil prices took a break from the recent march higher. But oil
prices resumed the upward climb on Friday and stocks turned lower in the early
going.
U.S. light crude oil for July delivery rose to $133.20 a barrel. Oil hit an electronic
trading record of $135.09 a barrel on Thursday.
Gap reported late Thursday higher
first-quarter earnings that topped forecasts.