Companies: Home builder KB Home reported a second-quarter loss Friday that was smaller than expected, which pushed shares up 13%.
Nike shares tumbled 9%, a day after the company reported quarterly earnings that missed analyst estimates.
Shares of Research In Motion fell 19%, after the BlackBerry-maker reported a wider-than-expected loss Thursday, and another delay of its long-awaited BlackBerry 10 operating system.
Ford shares slid nearly 5%. On Thursday, the automaker lowered its guidance based on poor performance by its international divisions.
Shares of gun manufacturing company Smith & Wesson surged after the company's earnings beat profit expectations by a wide margin.
Currencies and commodities: The dollar fell against the euro, British pound and Japanese yen.
Oil for August delivery rose $7.27 to $84.96 a barrel.
Gold futures for August delivery jumped $53.80 to $1,604.20 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.65% from 1.58% late Thursday.