Stocks end the week barely up

dow.png By Annalyn Censky, staff reporter


NEW YORK (CNNMoney.com) -- Trading was choppy and light Friday, with stocks barely ending the week higher as investors wavered between mildly upbeat data and ongoing fears about a slowing economy.

For the overall week, the Dow Jones industrial average (INDU) rose 15 points, closing at at 10,463 on Friday. The S&P 500 (SPX) added 5 points to end at 1,109, and the tech-heavy Nasdaq (COMP) Composite rose 10 points to 2,243, according to early tallies.

All three stock indexes posted gains in the two prior trading sessions, but those were modest compared to losses on Tuesday. The Dow needed to rise above 10,448 to breakeven for the week, and after hovering all day around that level, rallied late Friday to rise slightly higher.

Trading volume was exceptionally light during the shortened holiday week. U.S. stock markets were closed Monday for Labor Day, and trading desks were staffed lightly Thursday and Friday due to Rosh Hashanah.

Economy: Earlier Friday, a government report showed that wholesale inventories rose 1.3% in July, following an upwardly revised 0.3% increase the month before. Investors took the unexpected rise as a positive sign for the economic recovery.

In a White House press conference, President Obama continued his push for a $350-billion jobs recovery plan and a small business tax cut currently stalled in Congress.

Companies: Shares of Nokia (NOK) gained more than 2%, after the mobile phone maker named Stephen Elop -- the head of Microsoft's (MSFT, Fortune 500) business division -- as its CEO. Elop will begin as president and CEO on Sept. 21, replacing Olli-Pekka Kallasvuo.

Pacific Gas & Electric (PCG, Fortune 500) tumbled more than 8% Friday after a gas pipeline in California exploded and erupted into flames. The blast occurred in San Bruno, near San Francisco, after a gas transmission line owned by the company ruptured. The cause of the rupture is still being investigated.

World markets: European closed mixed. The CAC 40 in France and Britain's FTSE 100 both rose 0.1%, and the DAX in Germany fell 0.1%.

Asian markets ended higher, after the Japanese government unveiled a $10.9 billion stimulus package aimed at boosting employment, consumer spending and corporate investment.

Japan's benchmark Nikkei index rallied 1.5% and the Hang Seng in Hong Kong gained 0.4%. The Shanghai Composite ended 0.3% lower.

Currencies and commodities: The dollar fell against the euro, but rose against the British pound and the Japanese yen.

Oil futures for October delivery climbed $2.20 to settle at $76.45 a barrel, after reports of a pipeline leak and the government's latest supply report spurred speculators to short-cover their oil positions.

Gold for December delivery dipped $4.40 to settle at $1,246.50 an ounce.

Bonds: The yield on the 10-year Treasury note rose to 2.8% from 2.76% late Thursday. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.96%3.94%
15 yr fixed3.08%3.03%
5/1 ARM3.33%3.33%
30 yr refi4.04%4.02%
15 yr refi3.16%3.09%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 17,117.55 143.24 0.84%
Nasdaq 4,543.47 -5.76 -0.13%
S&P 500 1,986.80 4.50 0.23%
Treasuries 2.29 -0.03 -1.33%
Data as of 12:06pm ET
Company Price Change % Change
Facebook Inc 73.91 -1.95 -2.57%
Bank of America Corp... 16.96 -0.02 -0.15%
Intel Corp 32.83 -1.09 -3.21%
Avon Products Inc 10.14 -0.82 -7.48%
Apple Inc 106.35 -0.99 -0.92%
Data as of 11:51am ET

Sections

Shares of Keurig Green Mountain are riding a caffeine high this year. Will Coke, which already owns a big stake in Keurig, buy the rest? More

Apple CEO Tim Cook writes column in which he announces that he's gay: "I consider being gay among the greatest gifts God has given me." More

San Francisco-based Tumml is an accelerator fostering 'urban impact start-ups' that aim to tackle civic problems -- and turn a profit. More

Amy Kukec thought leaving her abusive husband would be the beginning of a new life, but so far she's hit one debilitating financial roadblock after another. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.