Closing Bell: Lending Club Climbs on CEO Assurance; U.S. Stocks Rise

The tech sector led gains on Wall Street after a better-than-expected quarter from Applied Materials (AMAT) - Get Report alleviated worries over weaker demand in the industry. The sector has been hard hit over this earnings season with big misses from giants including Apple (AAPL) - Get Report and Alphabet (GOOGL) - Get Report . Crude oil closed nearly one percent lower after the number of U.S. rigs drilling in oil fields came in unchanged over the past week. Crude did climb more than three percent for the week, though, as global supply disruptions inspired bullish sentiment. LendingClub (LC) - Get Report jumped as its new CEO assured investors the company remains financially viable and fully operational. The peer-to-peer lender is under federal investigation over a number of loans. TheStreet's Keris Lahiff has details from Wall Street.