Stocks dip in short session

NEW YORK (CNNMoney.com) -- Stocks slipped Friday in a shortened post-Thanksgiving session, as investors focused on rising oil prices and reports from the nation's retailers about the start of the crucial holiday shopping season.

The Nasdaq composite (down 5.72 to 2,460.26, Charts) lost 0.2 percent, after ending Wednesday's session at its highest point since February 2001.

The Dow Jones industrial average (down 46.78 to 12,280.17, Charts) and the broader S&P 500 (down 5.14 to 1,400.95, Charts) index both lost roughly 0.4 percent. The S&P ended last Wednesday's session at at a six-year high.

All financial markets were closed Thursday for Thanksgiving. Stock markets closed at 1 p.m. ET Friday, 3 hours early, while Treasury markets were due to close at 2 p.m. ET.

Treasury prices rose, lowering the corresponding yields. The dollar slipped versus other major currencies.

For the week, the Nasdaq gained 0.6 percent, the Dow lost 0.5 percent and the S&P was barely changed.

Volume was light and trading was choppy throughout the session Friday, with many Wall Street professionals making a four-day weekend of the Thanksgiving period.

With no economic or big earnings reports released Friday, the focus was on so-called Black Friday, the day after Thanksgiving that is typically seen as the start of the holiday shopping season.

Initial reports from retailers were positive, with bargain hunters taking advantage of a variety of stores opening as early as midnight to usher in the throngs of shoppers.

Among retail stock movers, Wal-Mart Stores (down $0.13 to $47.90, Charts) and rival Target (down $0.71 to $57.71, Charts) both slipped modestly. Home Depot (down $0.38 to $37.72, Charts) and fellow home improvement retailer Lowe's (down $0.34 to $30.00, Charts) both lost close to 1 percent. Federated Department Stores (up $0.04 to $43.11, Charts), the parent of Macy's and Bloomingdale's was little changed.

A variety of commodity stocks rose, including shares of gold and silver companies. The advance was likely a reaction to a falling U.S. dollar, which makes dollar-traded investments like gold less expensive.

Newmont Mining (up $0.67 to $45.55, Charts), Goldcorp (up $0.81 to $28.19, Charts) and Yamana Gold (up $0.42 to $11.64, Charts) all rose in active trading, lifting the Amex Gold Bugs (up $8.23 to $340.26, Charts) index by 2.5 percent.

The iShares Silver Trust (up $3.78 to $134.11, Charts) index jumped almost 3 percent.

Shares of Advanced Semiconductor Engineering (up $0.80 to $6.06, Charts) rallied over 15 percent in unusually active trade on news that a private equity group, led by the Carlyle Group, is planning a $5.5 billion bid for the Taiwanese chip packaging firm.

Systemax (up $2.08 to $14.20, Charts) reported higher fiscal second-quarter sales and earnings Friday morning, sending shares of the computer retailer and distributor 17 percent higher.

Market breadth was mixed and volume was light. On the New York Stock Exchange, advancers beat decliners by 8 to 7 on volume of 520 million shares. On the Nasdaq, losers topped winners five to four on volume of 690 million shares.

Stocks were mixed Wednesday, with Dell's (up $0.20 to $27.33, Charts) earnings boosting the technology sector and weakness in GM weighing on the blue chips.

In currency trading, the dollar slipped versus the euro and yen.

U.S. light crude oil for January delivery rose 66 cents to $59.90 a barrel in electronic trading.

Treasury bond prices rose, lowering the yield on the 10-year note to 4.55 percent from 4.56 percent late Wednesday. Treasury prices and yields move in opposite directions.

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