(CNBC) U.S. equities closed mixed on Friday after the initial fourth-quarter GDP read fell short of estimates, but managed to record weekly gains of around 1 percent.
The Dow Jones industrial average slipped 10 points but held above 20,000, with Chevron and Goldman Sachs contributing the most losses. Chevron shares declined after the firm reported disappointing quarterly results.
The Energy Select Sector SPDR Fund ETF (XLE) fell 1 percent. Also weighing energy stocks were falling crude prices, with WTI dropping 1.13 percent to settle at $53.17 a barrel.
Advertisement - story continues below
The S&P 500 slipped 0.1 percent, with real estate and energy leading decliners, while the Nasdaq composite closed 0.1 percent higher.