Toronto stocks closed lower Friday following a light trading session.

The S&P/TSX composite index lost 11.18 points, 0.1%, to 12,044.83.

For the week, the benchmark index gained 100 points.

Technology and mining stocks provided lift, while energy stocks closed flat.

Oil prices recovered after sliding 5.77% over the past four sessions. The September contract for light sweet crude on the New York Mercantile Exchange rose $1.08 to US$71.14 a barrel.

Suncor Energy shares moved up 65¢ to $89.05.

The financials sector moved 0.45% lower just before the start of the release of the bank’s quarterly earnings reports. Bank of Montreal, which reports Tuesday climbed 37¢ to $64.93, while Royal Bank, reporting Friday, lost 63¢ to $48.79.

The gold sector was 0.4% higher as the December contract for bullion on the Nymex lost $3.60 to US$621.70 an ounce.

Kinross Gold Corp. shares fell 25¢ to $13.84 while Barrick Gold Corp. gained 71¢ to $35.54.

The utilities sector fell 1% with TransAlta Corp. shares 5¢ lower to $24.85 as the company estimated a turbine outage at its coal-fired power plant in Centralia, Wash., will reduce third-quarter profits by $20 million to $25 million.

The junior TSX Venture composite gained 7.47 points to 2,609.74.

The Canadian dollar closed 0.22 of a cent lower at US88.88¢, as wholesale sales fell by 0.6% in June, pulled down by a drop in the auto sector.

New York markets moved up despite a disappointing earnings report from computer giant Dell Inc. and the announcement of big production cuts by Ford Motor Co.

The Dow Jones industrial average moved 46.51 points higher to 11,381.47 for a gain of 293.44 points this past week as inflation data Tuesday and Wednesday reinforced the view that the U.S. Federal Reserve won’t be raising interest rates anytime soon.

Ford shares were down 17¢ to US$8 as the automaker announced it will cut North American production by 21% in the fourth quarter, requiring partial shutdowns at several plants in the U.S. and Canada.

The Nasdaq rose 6.34 points to 2,163.95, gaining 106.24 points on the week, even as Dell posted a 51% decline in net earnings to $502 million US for its second quarter and said that regulators were investigating its accounting. Its shares fell 64¢ to $22.16 US.

The S&P 500 index moved 4.43 points higher to 1,301.91.

For the week, the blue-chip Dow average gained 2.65%, the S&P 500 added 2.81%, and the Nasdaq Composite jumped 5.16%.