U.S. stocks closed with just modest gains for the day, but they built on top of a solid week to end at 2016 highs. Manufacturing data for March supported a recovery, indicating that the sector had begun to overcome a strong U.S. dollar and weaker commodity prices. Crude oil closed at its lowest level since mid-March despite a decline in active oil rigs in the U.S. over the past week. The total number of active drilling rigs fell by 14 to a record low of 450. Starwood Hotels (HOT) closed lower after Chinese firm Anbang walked away from its $14 billion proposed takeover. The company had submitted an opposing and superior bid to Marriott's (MAR) original offer. BlackBerry (BBRY) sank after reporting a quarterly loss and sales that missed expectations. On a positive note, the smartphone company expects 30% growth in software and services sales over fiscal 2017. TheStreet's Keris Lahiff reports from Wall Street.
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