U.S. stocks open mostly higher, but remain on track for another weekly drop

U.S. stocks opened mostly higher on Friday, but remained on track to fall this week after the S&P 500 erased the last of its summertime gains and the Nasdaq Composite fell into correction territory. Stocks got a boost Friday as traders digested strong earnings from Amazon.com Inc.
AMZN,
+6.83%,
one of the most valuable U.S.-traded companies, as well as other earnings and a fresh batch of data on inflation and consumer spending. The S&P 500
SPX,
-0.48%
gained 15 points, or 0.4%, to 4,152. The Nasdaq Composite
COMP,
+0.38%
rose by 124 points, or 1%, to 12,722. The Dow Jones Industrial Average
DJIA,
-1.12%
was down 36 points, or 0.1%, at 32,748. The S&P 500 is down 1.7% for the week, on track for a second-straight weekly drop, and the sixth week in the red out of the last eight.