Why an S&P 500 close above 6,000 would be an important psychological threshold for investors

Health care stocks rose Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both adding 0.7%.

The iShares Biotechnology ETF (IBB) climbed 1.5%.

In corporate news, Phathom Pharmaceuticals shares doubled after the company said the US Food and Drug Administration granted 10 years of exclusivity for its Voquezna tablets.

Omada Health O shares jumped 32% in their Nasdaq debut after the virtual health-care provider priced its initial public offering of 7.9 million shares at $19 apiece.

Novo Nordisk's obesity and diabetes drug semaglutide may increase the risk of vision loss, a "very rare side effect," the European Medicines Agency said. Novo Nordisk shares rose 2.6%.

Tech stocks were mixed Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 1% and the SPDR S&P Semiconductor ETF (XSD) edging down 0.02%.

The Philadelphia Semiconductor index added 1.1%.

In corporate news, Alphabet defeated three investor bids to report on potential hazards associated with AI, Bloomberg reported Friday, citing preliminary results from the company's annual meeting. Alphabet shares were rising 2.9%.

Apple's outlook is bullish before its developer conference, which is seen as pivotal to its monetization phase of its AI backbone, Wedbush said in a report. Wedbush reiterated its outperform rating. Apple shares were up 1.7%.

Broadcom's most recent quarterly results and outlook narrowly beat estimates, but left investors disappointed as they were hoping for a more substantial upside surprise, Truist Securities said Friday in a note. Broadcom shares were down 3.7%.

Financial stocks increased in Friday afternoon trading, with the NYSE Financial Index up 0.8% and the Financial Select Sector SPDR Fund (XLF) adding 0.9%.

The Philadelphia Housing Index fell 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) was little changed.

Bitcoin (BTC/USD) increased 1.4% to $104,689, and the yield for 10-year US Treasuries rose 9.9 basis points to 4.49%.

In economic news, total nonfarm payrolls rose by 139,000 in May, the Bureau of Labor Statistics said, above the consensus forecast of 126,000 in a survey conducted by Bloomberg.

In corporate news, UBS said Friday it "strongly disagrees" with a regulatory proposal by the Swiss Federal Council under which it may need up to $26 billion in additional capital under proposed Swiss financial reforms. UBS shares rose 2.1%.

BlackRock shares were up 0.3%. The company is planning to reduce about 300 roles in its second round of job cuts, Bloomberg reported late Thursday.

Deutsche Bank is exploring stablecoins and tokenized deposits to expand into digital assets, Bloomberg reported, citing Sabih Behzad, the head of digital assets and currencies transformation. The bank's stock increased 0.3%.

Energy stocks gained Friday afternoon with the NYSE Energy Sector Index rising 1.3% and the Energy Select Sector SPDR Fund (XLE) adding 1.7%.

The Philadelphia Oil Service Sector index climbed 1.9%, and the Dow Jones US Utilities index was little changed.

West Texas Intermediate crude oil rose 1.8% to $64.50 a barrel, and global benchmark Brent advanced 1.7% to $66.42 a barrel. Henry Hub natural gas futures gained 3.1% to $3.79 per 1 million BTU.

In corporate news, TotalEnergies is planning to divest a 50% stake of its US renewable assets portfolio, Bloomberg reported. TotalEnergies shares rose 0.2%.

Constellation Energy (CEG) shares added 1.2% after the company received approval from the Public Utility Commission of Texas for its acquisition of Calpine.

Petrobras (PBR) is targeting Africa as its main development region outside Brazil, Reuters reported, citing Chief Executive Officer Magda Chambriard. Petrobras shares gained 1.4%.