Apple delivered quarterly revenue of United States $59.7 billion, up by 11 per cent year on year, with quarterly earnings per diluted share of U.S. $2.58, up by 18 per cent.
Amazon rose after posting its biggest profit ever while Facebook shares jumped after the social media giant blew past revenue expectations.
The Standard and Poor's 500 dropped 12.22 points, or 0.4%, to 3,246.22, with almost 3 out of 4 stocks in the index falling.
Phil Toews, chief executive officer of Toews Corp in NY, said the market had been influenced by the central bank and positive momentum. "These are extremely profitable companies and they produce products that people want". Gold also briefly rose above $2,000 per ounce for the first time, while almost three out of four stocks in the S&P 500 were lower.
Apple's gain pushed it ahead of Saudi Arabian Oil Co as the world's most valuable public company, Refinitiv data showed. The extra federal unemployment benefits of $600 a week run dry as of Friday - leaving millions of out-of-work Americans without an additional safety net at a time when the jobs market is still depressed.
"It seems like they are far apart and supposedly they are working at it and there is a lot of name calling and as usual there is a lot of bad blood between these two parties and they have to come to some compromise, clearly, but they are not there, that's for sure", said Ghriskey.
Citing statistics, on Friday's Wall St. closing bell, the Dow added 0.40 per cent to 26,428.32, S&P 500 gained 0.80 per cent to 3,271.12, while the tech-heavy Nasdaq surged 1.5 per cent to wind down the day at 10,745.27.
It was a choppy session with each major index up and down.
Nasdaq Composite gains more than 1% on rising tech shares.
Meanwhile, US-listed Chinese companies traded mostly higher, with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.
US deaths from COVID-19 appeared to be rising at their fastest rate since early June, and the Midwest looked like the current epicenter of the pandemic.
The benchmark index is now about 4% shy of its February all-time high, but faltering macroeconomic data and rising COVID-19 cases are making investors cautious again. But the expiration of the weekly supplemental jobless benefits had investors concerned about economic damage from the pandemic, capping gains on the Dow and S&P 500.
For the week, the S&P gained 1.73%, the Dow shed 0.15% and the Nasdaq climbed 3.69%.
Of the S&P 500's 11 major sectors, energy, materials and financials lagged the most.
Caterpillar Inc fell 2.8% after the bellwether for economic activity offered little signs of improvement in equipment sales.
The Nasdaq is up 1,615.21 points, or 18%.
"The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term", the Fed said in a statement after concluding a two-day policy meeting, adding it chose to maintain the target range for the federal funds rate at 0-0.25 per cent.
Aged care fears as one new Qld case confirmed
Queensland on Thursday recorded three new coronavirus cases, including two linked to a previously identified Sydney cluster. There is also a mad rush from NSW residents trying to squeeze past the border to beat the 1am deadline on Saturday.
Shkodran Mustafi to miss start of next season
But Bellerin could return to the starting XI against Chelsea at Wembley, or at least make the bench. Further assessments during the week identified a significant injury to the right hamstring.