04:57 PM EDT, 06/21/2024 (MT Newswires) -- US benchmark equity indexes closed mostly lower Friday as a report showed existing home sales dropped in May.

The S&P 500 and the Nasdaq Composite fell 0.2% each to 5,464.6 and 17,689.4, respectively. The Dow Jones Industrial Average was little changed at 39,150.3. Technology and energy saw the steepest declines among sectors, while consumer discretionary paced the gainers.

For the week, the Dow jumped 1.5%, while the S&P 500 rose 0.6%. The Nasdaq was almost unchanged.

In economic news, US existing home sales fell last month as prices reached a new record high, the National Association of Realtors said Friday. Existing home sales dropped 0.7% month over month in May to a seasonally adjusted annual rate of 4.11 million units. The consensus was for a 4.08 million print in a survey compiled by Bloomberg.

Government data showed Thursday that US housing starts unexpectedly fell last month as both multifamily building and single-family house projects skidded while permits also decreased.

"Uncertainty surrounding the longer-term level for rates continues to wreak havoc on housing market fundamentals," Stifel said in a Friday note to clients. "The more recent notion, in fact, of higher-for-longer continues to undermine momentum, driving new construction to the lowest level in four years."

US private-sector output growth in June rose to its highest level since April 2022, led by the services sector as price pressures eased while business confidence for the year ahead improved, according to S&P Global's ( SPGI ) flash purchasing managers' index.

"The PMI is running at a level broadly consistent with the economy growing at an annualized rate of just under 2.5%," S&P Global Market Intelligence Chief Business Economist Chris Williamson said. "The upturn is broad-based, as rising demand continues to filter through the economy."

The US 10- and two-year yields were little changed at 4.26% and 4.73%, respectively.

West Texas Intermediate crude oil fell 0.8% to $80.64 a barrel.

In company news, Broadcom ( AVGO ) shares dropped 4.4%, the steepest decline on the S&P 500 and the Nasdaq.

FactSet Research Systems ( FDS ) shares rose 3.8%, the top gainer on the S&P 500, as the company raised its fiscal 2024 adjusted earnings outlook after reporting a third-quarter beat.

McDonald's (MCD) was the best performer on the Dow, up 2.2%. The fast-food heavyweight said Thursday it will launch a $5 meal deal starting June 25 at select US restaurants for a limited time.

Gold fell 1.5% to $2,334.20 per troy ounce, while silver slumped 4.1% to $29.57 per ounce.