Stocks wrapped the session and the week with mixed results on Friday, after big US banks kicked off earnings season with upbeat profits, and as the developing conflict in the Middle East kept investors on watch.

The Dow Jones Industrial Average (^DJI) was the sole index to end the day in the green, gaining 0.12%, or 40 points. The S&P 500 (^GSPC) shed 0.5%, while the tech-heavy Nasdaq Composite (^IXIC) slid about 1.2%.

Wall Street banks got the third quarter earnings season started in earnest on Friday, with a strong showing that saw both Wells Fargo (WFC) and JPMorgan (JPM) post higher profits than expected.

The results will be scrutinized for insight into how well banks are prepared for the Fed's higher-for-longer interest rates and whether a two-year slump in dealmaking is finally waning.

Read more: What a Fed rate-hike pause means for bank accounts, CDs, loans, and credit cards

The 10-year Treasury yield (^TNX) fell nearly 8 basis points to 4.63% amid signs Israel will soon launch a ground assault in Gaza. Bond yields rose and stocks snapped a four-day run of wins on Thursday after data showed US headline inflation has remained sticky.

In commodities, oil prices jumped amid the Middle East concerns and after the US on Thursday tightened sanctions on sales of crude to Russia. Crude oil futures (CL=F) climbed more than 4%, while Brent crude futures (BZ=F) added 4%.

On the corporate side, Microsoft (MSFT) closed its $69 billion takeover of "Call of Duty" maker Activision Blizzard (ATVI) after the UK antitrust regulator gave its clearance for the deal.

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