Listless market ends week with tiny loss, indexes slightly up
NEW YORK - Summertime settled into Wall Street on Friday as major stock indexes drifted slightly higher going into the weekend. The listless day of trading left the stock market with a tiny loss for the week, its second this month.
NEW YORK - Summertime settled into Wall Street on Friday as major stock indexes drifted slightly higher going into the weekend. The listless day of trading left the stock market with a tiny loss for the week, its second this month.
A handful of corporate results drove trading in some big names. Warnings of weaker earnings pushed Wilmington-based DuPont down, while stronger results pushed Nike up. But the market was essentially flat.
The Standard & Poor's 500 index edged up 3.74 points, or 0.19 percent, to close at 1,960.96. The most widely used benchmark for stock funds lost 1.91 points for the week, a loss of 0.1 percent.
The Dow Jones industrial average rose 5.71 points, less than 0.1 percent, to close at 16,851.84, while the Nasdaq composite rose 18.88 points, or 0.43 percent, to 4,397.93.
The S&P 500 has gained 5.8 percent in three months and reached its latest all-time high on June 20, one week ago.
In Friday trading, DuPont dropped $2.26, or 3 percent, to $65.44. The company cut its profit forecast late Thursday as a result of weaker sales of corn seeds.
Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.53 percent. The price of oil fell 10 cents to settle at $105.74 a barrel.