As Middle East strife recedes from investors’ minds, though, fears of budget gridlock grow.
“Geopolitics ... is much lower on the list. It’s not off the list” of investor worries, said David Darst, chief investment strategist for Morgan Stanley Wealth Management. “No. 1 becomes the debt ceiling and the federal spending debate.”
In corporate news, BlackBerry plunged $1.79, or 17 percent, to $8.72 on the Nasdaq after announcing a loss of nearly $1 billion and layoffs of 4,500 workers. The company’s phones have been eclipsed by phones from Apple and Samsung.
Apple fell $4.89, or 1 percent, to close at $467.40 as its newest iPhone debuted at stores.
Darden, the struggling parent of Olive Garden and Red Lobster, fell $3.52, or 7 percent, to $45.78 after posting a much lower quarterly profit and saying its president and chief operating officer will retire. Sales fell at its two flagship restaurant chains despite efforts to renew menus and advertising.
Two new stocks had strong debuts. Tech security company FireEye surged $16, or 80 percent, at end at $36, and artificial intelligence company Rocket Fuel rose $27, or 93 percent, to $56.10.
The yield on the 10-year Treasury note fell to 2.74 percent, from 2.76 percent on Thursday.