US stocks rose on Friday and the S&P 500 posted its biggest weekly gain since July as investors weighed whether the Federal Reserve will raise interest rates next week. Energy shares dropped, however, after Goldman Sachs cut its oil price forecast through next year. Eight of the 10 S&P 500 sectors closed higher, led by gains in utilities, which tend to rise as bond yields fall.
The index ended up 0.8 percent, while 10-year US Treasury note US10YT=RR yields dipped. Investors are awaiting next week's Fed monetary policy meeting and news on whether it will raise benchmark US rates for the first time in almost a decade.
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