Stocks closed the week virtually unchanged over five sessions despite volatility based on worries about the rate of Chinese growth and the stability of European economies.The Dow Jones Industrial Average closed up 22.32 points, or 0.2%, at 11,203.55 on Fr
Stocks closed the week virtually unchanged over five sessions despite volatility based on worries about the rate of Chinese growth and the stability of European economies.
The Dow Jones Industrial Average closed up 22.32 points, or 0.2%, at 11,203.55 on Friday. The measure rose 0.1% over the week.
Boeing was the measure's worst performer, dropping 1.6%, while Walt Disney also was weak, shedding 1.5%. Helping limit the drop, Hewlett-Packard climbed 1.9% ahead of its fiscal fourth-quarter earnings report Monday.
The Nasdaq Composite added 3.72 points, or 0.2%, to 2518.12 and edged down 0.004% for the week, its second consecutive week of losses.
The S&P 500 index rose 3.04 points, or 0.3% to 1199.73, led by its materials and consumer-discretionary stocks. The S&P 500 edged up 0.04% over the week.
Other markets: Europe down, Asia up
European stock markets ended mostly lower as investors reduced positions amid uncertainty over when a potential bailout deal for Ireland may be agreed on.
The Stoxx Europe 600 index fell 0.6% to end at 269.50 points, posting a 0.3% decline for the week. It is up 6.45% year-to-date.
The UK’s FTSE 100 index declined 0.6% to 5732.83 and was down 1.1% for the week. It remains up nearly 6% on the year.
Asian equities settled mostly higher, with Shanghai stocks shrugging off concerns about the interest-rate increase. The composite index rose 0.8% to 2888.57, after dropping more than 2% at one point during the session.
In Japan, the Nikkei Stock Average rose 0.1% to 10,022.39, as the yen's recent weakness against the euro helped Japanese exporters extend gains.
Australia's S&P/ASX 200 dropped 0.2% to 4629.20, Korea's Kospi gained 0.7% to 1940.96, Taiwan's Taiex rose 0.3% to 8306.12 and India's Sensex shed 1.7% to 19,585.44.
Commodities: Oil, gold down
Oil prices finished slightly lower as traders focused on monetary tightening in China and euro-zone jitters.
Light, sweet crude for December delivery settled down 34USc, or 0.4%, at $US81.51 a barrel in New York. Trading volume was light as the December contract expired. The January contract settled down 44USc, or 0.5%, at $US81.98.
Gold futures ended little changed. The most actively traded contract, for December delivery, settled down 0.1%, or 70USc, at $US1352.30 an ounce in New York.
Currencies: Euro up, pound down
The euro strengthened against the dollar as officials continued to hammer out a loan package for financially stressed Ireland.
The euro was at $US1.3691 from $US1.3628 late on Thursday. The dollar was at ¥83.46 yen from 83.51 yen, while the euro was at 114.26 from ¥113.80.
The UK pound was at $US1.5990 from $US1.6042. The dollar was at 0.9920 Swiss francs from 0.9967 francs.
