The broader Technology Select Sector SPDR (XLK) gained 0.3% on Friday, mostly led by the group's biggest companies including Microsoft. Separately, the Fed's Beige Book stated that the overall U.S. economy is expanding at a moderate pace, while a pick-up in inflation raised December rate hike chances. The S&P 500 and the Dow closed in negative territory after GE's weaker than expected revenue growth dampened investor sentiment.