U.S. stocks closed mostly lower for the week as investors continued to grapple with the uncertainty over rising rates and geopolitical concerns.

Positive U.S. economic reports this past week, including continued job market strength and lower than anticipated inflation growth, pushed the stock market to its best weekly gain since March.

US equity performance was a mixed bag this past week with the information technology sector surging 3.2%, while all other sectors ended about even or down for the week, with the worst performer being the telecommunications sector that lost 4.6%.

Despite continued solid corporate earnings results and first quarter GDP growth in excess of expectations at 2.3% year-over-year, U.S. equities ended last week slightly below even.

The US equity market ended last week on a downward trend following a midweek surge in prices.