Market Wrap / Baby's day out

The materials sector dragged the local sharemarket lower on Friday, driven by  commodity‑price pressure and a rotation into tech. The S&P/ASX 200 fell 0.8% to 9115.20, to be down 1.6% for the week.BHP lost 3.3% ahead of its results next week with Rio Tinto and Fortescue also falling.And Alcoa dropped 4.1% after inking a $1.5 billion gas deal with Equus Energy, which rose 1.6%.Tech was the best performing sector, following a positive lead from Wall Street, with Xero adding 5.5%, while Seek recovered some of its post result losses to be up 9.1%. QBE Insurance lost 1.7% after posting marginally higher half-year profit results.Retailer Baby Bunting jumped 5.8% on a higher profit and a positive outlook.Storage King tumbled 8.3% after its profit halved.Next week earnings season ramps up with NAB, Cochlear, JBHiFi and CSL among the companies reporting.