Google soared 16 percent, the most in more than seven years, and Facebook added 4.5 percent to a record. The Nasdaq Internet index gained 2.6 percent. The S&P 500's energy group dropped 1.1 percent as Chevron lost 1.4 percent and Chesapeake Energy sank 5.5 percent. Boeing slid 1.1 percent after saying it will revise its profit outlook amid higher costs to develop a new refueling tanker.
The Nasdaq composite rose 0.9 percent to 5,210.14, and the Nasdaq 100 index added 1.5 percent to a more than 15-year high. The S&P 500 climbed 0.1 percent to 2,126.64, within 5 points of its all-time high. The Dow Jones industrial average fell 33.80 points, or 0.2 percent, to 18,086.45, weighed by declines in Boeing and Chevron.
"We're now watching earnings come out, with the background of what's going on internationally," said Bill Schultz, who oversees $1.2 billion as chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa. "It looks like Google had a good earnings report, so that's helping. There's nothing right now that looks like there's an impediment to pushing stocks higher or causing a selloff."
The S&P 500 closed 0.2 percent below its record and had its biggest weekly gain in four months. The Nasdaq composite marked its best weekly advance since October, up 4.3 percent.
On the second day of her semi-annual testimony Thursday, Federal Reserve Chair Janet Yellen reiterated that she intends to increase borrowing costs this year, while emphasizing that the pace of any subsequent raises will be gradual.
A report Friday showed new-home construction climbed in June to the second-highest level since November 2007 amid a surge in apartment projects. Separate data showed the cost of living rose in June for the fifth consecutive month.
And then there's Greece
Greece's deal cleared another hurdle on Friday when German lawmakers overwhelmingly backed it. The European Union also said it would get Athens enough money for it to keep making its debt payments.
Europe's major markets finished mixed after rallying earlier this week. Germany's DAX lost 0.4 percent while France's CAC edged up 0.1 percent. Britain's FTSE 100 slipped 0.3 percent.
Back in the United States, bond prices barely moved, leaving the 10-year Treasury note at 2.35 percent. The dollar dropped to 124.06 yen while rising to $1.0838 for every euro.
The Associated Press contributed to this report.