NEW YORK (CNN/Money) -
Investors packed up early Friday for the long Memorial Day weekend, leaving stocks little changed by the end of the session.
The Nasdaq composite (up 2.24 to 1986.74, Charts) had the strongest gains of all three indexes, finishing the day 0.11 percent higher and up 3.9 percent for the week.
The Dow Jones industrial average (down 16.75 to 10188.45, Charts) gave up 0.16 percent Friday, but ended the week 2.2 percent higher.
Standard & Poor's 500 (down 0.60 to 1120.68, Charts) barely budged Friday, closing 0.06 percent lower on the day but 2.5 percent higher for the week.
It's been a rocky month for stocks as concerns of renewed violence in Iraq, surging oil prices that spilled above $40 a barrel, and increasing anxiety over a June interest rate hike by the Federal Reserve spooked investors.
"All of those things conspired to create a difficult environment for stocks," said Jack Ablin, chief investment officer for Harris Trust.
Nevertheless, the Nasdaq and the S&P 500 managed to squeeze in modest gains for the month as the Dow lagged. The Nasdaq ended the month 3.5 percent higher and the S&P 500 rose 1.2 percent, but the Dow fell 0.4 percent.
A steady stream of economic news released Friday, however, gave investors mostly positive readings on the economy.
Personal spending rose 0.3 percent in April, the government reported, beating economists' forecasts for a 0.2 percent gain. Economists monitor spending closely since it fuels two-thirds of the nation's economy. Personal income, meanwhile, rose 0.6 percent for the month, also above forecasts.
The Chicago Purchasing Managers Index, a gauge of Midwest manufacturing activity, surged to 68 compared to economists' forecasts for a reading of 62.
But the University of Michigan's final reading of its consumer sentiment index for May fell to 90.2, according to Briefing.com, short of economists' forecasts for a reading of 94.2.
Looking ahead to next week, analysts agreed the hottest piece of economic data will be Friday's monthly payrolls report as the labor market has been lagging behind the rest of the economy in terms of recovery.
Economists surveyed by Briefing.com foresee a 215,000 increase in non-farm payrolls for May, down from 288,000 in April. The unemployment rate is expected to hold steady at 5.6 percent.
What moved Friday
Few Dow stocks made any big moves, with Verizon (VZ: Research, Estimates) losing 1.43 percent, Walt Disney (DIS: Research, Estimates), Boeing (BA: Research, Estimates), and Altria (MO: Research, Estimates) shedding close to 1 percent.
Novellus Systems (NVLS: up $1.91 to $33.29, Research, Estimates) late Thursday raised its second-quarter estimates on stronger demand in Asia and the United States, lifting the chip equipment maker's stock 6 percent.
Telecommunications equipment supplier Ditech Communications (DITC: up $4.67 to $20.59, Research, Estimates) led the Nasdaq's top gainers, rising nearly 30 percent a day after reporting an $8.3 million, or 24 cents a share, fourth-quarter profit versus a year-earlier loss of $3.8 million, or 13 cents per share.
Credit card services firm National Processing (NAP: up $3.83 to $28.76, Research, Estimates) said late Thursday its board is weighing a possible sale of the company, boosting its shares more than 15 percent.
Elsewhere, shares of El Paso (EP: down $0.52 to $7.21, Research, Estimates) slipped nearly 7 percent after the natural gas producer said the pre-tax charges from a cutback at its reserves would exceed $1 billion.
News of an offer to buy gold producer Wheaton River for $1.7 billion in cash and stock knocked shares of would-be acquirer Coeur d'Alene Mines (CDE: down $0.37 to $4.69, Research, Estimates) over 7 percent lower. Wheaton River (WHT: down $0.01 to $2.91, Research, Estimates) edged marginally lower.
Software firm Blue Coat Systems (BCSI: down $11.45 to $27.80, Research, Estimates) late Thursday warned its first-quarter profit would miss analysts' estimates and posted a weaker-than-expected fourth-quarter profit of $2.6 million, or 20 cents a share, missing the 24 cents-per-share forecast. Its stock skidded nearly 30 percent.
Market breadth was positive on thin volume. On the New York Stock Exchange, advancers outpaced decliners by roughly nine to seven as 1.16 billion shares changed hands. On the Nasdaq, where 1.2 billion shares also traded, advancers beat decliners by eight to seven.
The benchmark 10-year Treasury eased 1/2 of a point in price to yield 4.66 percent versus 4.60 percent late Thursday. Bond prices and yields move in opposite directions.
The dollar, meanwhile, traded higher versus the euro but trailed the yen.
In the commodities market, COMEX gold settled $1.20 lower at $394.90 an ounce. NYMEX light sweet crude for July delivery rose 44 cents to settle at $39.88 a barrel. Brent crude for July delivery settled 33 cents higher at $36.58 a barrel in London.
European markets closed lower, but Asian markets rallied for a third straight session.
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