Investors absorbed the latest economic data, which offered contrasting views on when interest rate cuts may begin.

The Dow rose about one tenth of 1%, the S&P 500 added two tenths, and the NASDAQ climbed about the same as the Dow.

The S&P recorded its worst weekly performance since late October.

For the NASDAQ, it was its worst weekly performance since late September.

Friday, the jobs report out before the market opened, lowered expectations of a rapid easing of interest rates by the Federal Reserve pushing stock futures lower.

Later, data from the Institute for Supply Management Services sector, pointing to a weaker economy, encouraged those betting on rapid easing sending markets higher.

Financials contributed to the gains, with the sector notching a nearly two year high earlier in the day.

While the so-called Magnificent 7 mega cap technology stocks finished mixed.

Horizon investments chief investment Officer Scott Ladner said investors should broaden their portfolios beyond tech this year.

"Everybody talked, has talked about, you know, where do I play in, you know, what do I play in the US equity market is the Mag 7 or is it the S&P 493 or is it small caps or is it mid caps or something? And you know, to us, we think that the the SP 493 probably can get the you know, the best bang for your buck. Again, not being short or underweight those those Max 7 names but being at least you know like you know to put trying to put some emphasis on the rest of the 493 because we do think they play some catch up."

Stocks on the move included Peloton, which jumped 10% after the fitness equipment maker said it will bring its workout content to short form video platform TikTok in an exclusive partnership.

And Palantir Technologies. Its stock dropped 2% after Jefferies downgraded the data analytics firm to underperform because of its high valuation.