S&P 500 closes at record on better-than-expected home sales and tech surge

US equities erased early losses and climbed on Friday, with the S&P 500 closing at a record high following positive economic data.
Existing home sales surged a record 24.7% in July to a seasonally adjusted rate of 5.86 million. Economists expected a reading of 5.41 million.
Apple led tech stocks higher and posted a record high ahead of its end-of-month stock split.
Oil sank before retracing some losses. West Texas Intermediate crude fell as much as 2.6%, to $41.46 per barrel.
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