Intel INTC.O surged following the chipmaker's consensus-beating quarterly report, lifting the whole sector. By Stephen Culp NEW YORK, Oct 27 (Reuters) - U.S. stocks closed mostly lower on Friday, losing momentum as investors digested a hectic week of mixed earnings, and economic data that seemed to support the "higher for longer" interest rate scenario. The Commerce Department's hotly anticipated Personal Consumption Expenditures (PCE) report showed inflation gradually cooling down as expected, getting closer to the Federal Reserve's 2% annual target while consumer spending, which accounts for about 70% of the U.S. economy, posted a robust upside surprise.