Falling energy prices gave stocks a modest lift Friday as Wall Street set aside worries about interest rates. But the gains weren't enough...
NEW YORK — Falling energy prices gave stocks a modest lift Friday as Wall Street set aside worries about interest rates. But the gains weren’t enough to help the major indexes, which ended the week with losses.
At the close of trading, the Dow Jones industrial average gained 23.46 to 10,778.58.
Microsoft, one of the 30 Dow stocks, added 2 cents Friday to close at $27.71, off 1.1 percent for the week. Boeing, also a Dow stock, fell 42 cents Friday to $69.65 after hitting a 5-year high on Thursday. For the week, Boeing gained 0.3 percent.
Broader stock indicators were also higher. The Standard & Poor’s 500 index was up 3.53 at 1,259.37, and the Nasdaq composite index added 10.27 to 2,256.73.
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The major indexes finished lower this week despite the afternoon advance. For the week, the Dow dropped 0.91 percent, the S&P 500 fell 0.45 percent and the Nasdaq was down 0.73 percent.
Stocks zigzagged through most of Friday’s session, capping a week of jittery trading as investors scoured for any news that might revive a year-end rally. Many are wishing for a solid holiday-shopping season, with cheaper gasoline prices contributing to improving consumer confidence.
Oil and gas prices retreated after a week of sharp gains as a snowstorm blew through the Northeast and Midwest. On the New York Mercantile Exchange, natural gas plunged 68.2 cents to $14.312 per 1,000 cubic feet, and a barrel of light crude lost $1.27 to $59.39.