NEW YORK (CNN/Money) -
Technology buying gave a lift to the Nasdaq Friday, while the rest of the market stuck close to breakeven, as investors finished out a holiday shortened trading week on an up note.
The Dow Jones industrial average (up 2.89 to 9782.46, Charts) and the Standard & Poor's 500 (down 0.25 to 1058.20, Charts) index both closed a few points above breakeven and the Nasdaq composite (up 6.95 to 1960.26, Charts) closed more than 0.3 percent higher.
Markets were closed Thursday for Thanksgiving and many market participants took Friday off as well. The stock markets closed at 1 p.m. ET Friday.
Without any new economic news to sort through and with few participants on hand, the market struggled for direction throughout the session, ending modestly higher.
Despite the lackluster session Friday, the major indexes closed higher for the week, due to the gains made pre-Thanksgiving, breaking a two-session losing streak.
For the month, the Dow fell 0.2 percent, the S&P 500 gained 0.7 percent, while the Nasdaq composite gained nearly 1.5 percent. Typically, the month is strong across-the-board.
On Monday, investors will take in reports on monthly sales for trucks and autos throughout the day. Shortly after the market opens, reports on manufacturing and construction spending will be released.
Monday's most closely-watched report is likely the Institute for Supply Management's read on manufacturing in November. Economists surveyed by Briefing.com expect the ISM index to come at 57.0, unchanged from last month.
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Among the few stocks making news Friday, Johnson & Johnson (JNJ: down $0.40 to $49.30, Research, Estimates) closed modestly lower. The New York Times reported Thursday that the company stopped several clinical trials of a commonly-used anemia drug after some patients developed a higher-than-expected number of blood clots.
Drugmaker Schering-Plough (SGP: up $0.80 to $16.18, Research, Estimates) added 4 percent in active NYSE trade after it was revealed that the company's CEO has bought $4.68 million worth of Schering's stock.
Shares of 8X8 (EGHT: up $0.76 to $7.52, Research, Estimates) continued to rally for the second session in a row, adding an additional 11 percent and placing second on the Nasdaq's most-actives list after a technology web site highlighted the voice broadband company as its top voice broadband pick, as mentioned in a Forbes article.
Among other active stocks, Microsoft (MSFT: up $0.26 to $25.71, Research, Estimates) gained 1 percent and topped the Nasdaq's most-actives list, and Lucent (LU: up $0.05 to $3.20, Research, Estimates) gained 1.3 percent and topped the NYSE's most-actives list.
The day after Thanksgiving, known as "Black Friday," is a big day for retailers, as it marks the first shopping day of the holiday season. Many retailers have forecast a stronger holiday shopping season than in recent years, due to the improving economy, and investors will be watching closely to see that that's true. Midday reports suggested the day was not as robust sales-wise as it was last year.
Market breadth was positive on the lightest volume day of the year. Advancers beat decliners by more than three to two on the New York Stock Exchange, where 481 million shares changed hands. On the Nasdaq, volume reached 698 million shares, with gainers beating decliners by just under 3 to 2.
The fall of the dollar continued to loom in the background. The euro rose to an all-time high Friday against the dollar, topping the $1.20 mark. The dollar was also lower versus the yen.
European markets closed mostly lower, while Asian stocks closed mostly higher Friday.
Treasury prices fell, pushing the 10-year note yield up to 4.33 percent from 4.25 percent late Wednesday. The bond market is expected to close around 2 p.m.
Brent oil futures fell 15 cents to $28.55 a barrel in London. U.S. commodities markets were closed Friday.
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