U.S. stocks closed mixed Friday, as investors remain nervous about Federal Reserve (Fed) Chairman Ben Bernanke's comments earlier in the week. In U.S. economic news, investors have been bailing out of bonds and sending yields higher over the past month amid speculation that the Fed will soon taper its monthly bond purchases, known as quantitative easing. The Fed has been a major driver of the bull market over the past few months as it has injected liquidity into the markets. Traders say the coming shift in monetary policy will mean even more volatility in the months ahead. In international economic news, Chinese stocks continued to head lower as investors worried about tighter liquidity conditions across the country and a slump in manufacturing activity. In corporate news, Oracle slid 9 percent after the tech firm reported weak results. Shares of Facebook edged higher, one day after the social media giant rolled out its Instagram video product. Darden Restaurants, which operates chains including Red Lobster and Olive Garden, reported earnings that missed estimates, but a slightly better-than-forecast revenue increase. Shares of CarMax slumped after the auto retailer missed revenue forecasts, even as it reported better-than-expected quarterly profits. Inflight wireless company Gogo lost ground on its first day of trading, closing 6 percent below its IPO price of $17. The dollar rose against the euro, the pound, and the yen. Light sweet crude oil for August delivery dropped $1.45 to $93.69 a barrel on the New York Mercantile Exchange. Gold futures gained $5.80 to $1,292.00 an ounce. The Dow Jones industrial average rose 41.08, or 0.28 percent, to 14,799.40. The broader Standard & Poor's 500 index gained 4.24, or 0.27 percent, to 1,592.43. The technology-heavy Nasdaq composite index dropped 7.39, or 0.22 percent, to 3,357.25.
