Market ends the week mixed
NEW YORK - U.S. stocks limped to the finish line in another winning week, with indexes turning in a mixed performance on Friday.
NEW YORK - U.S. stocks limped to the finish line in another winning week, with indexes turning in a mixed performance on Friday.
The Standard & Poor's 500 index slipped 3.13 points, or 0.1 percent, to 2,378.25 on Friday. Gains a couple of days earlier fueled by the Federal Reserve meant the index rose 0.2 percent for the week. It's the seventh weekly gain for the S&P 500 in the last eight, and the index is within 1 percent of its record high.
The Dow Jones industrial average fell 19.93 points, or 0.1 percent, to 20,914.62. The Nasdaq composite rose 0.24 points, or 0.004 percent, to 5,901.00. The Russell 2000 index of small-cap stocks rose 5.49, or 0.4 percent, to 1,391.52. Three stocks rose for every two that fell on the New York Stock Exchange.
Health-care stocks were also weak. Amgen had the biggest loss in the S&P 500 after results from a study of its cholesterol drug Repatha disappointed investors. It sank $11.50, or 6.5 percent, to $168.61.
Adobe surged to one of the biggest gains in the index after reporting stronger revenue and earnings for its latest quarter than analysts expected. It jumped $4.66, or 3.8 percent, to $127.01. Jeweler Tiffany sparkled after it also reported better profit than analysts expected for its latest quarter. Strong demand in China and Japan helped it to offset flagging sales at home. Its stock rose $2.44, or 2.7 percent, to $92.42.
The euro edged down to $1.0743, from $1.0749, late Thursday, and the British pound rose to $1.2396, from $1.2358. The dollar slipped to 112.70 Japanese yen, from 113.26 yen.
Benchmark U.S. crude rose 3 cents to settle at $48.78 per barrel. Brent crude, which is used to price international oils, rose 2 cents to $51.76 per barrel.
Natural gas rose 5 cents to $2.95 per 1,000 cubic feet. Wholesale gasoline inched up less than a cent to $1.60 per gallon, and heating oil rose a fraction of a penny to $1.51 per gallon.
Gold rose $3.10 to settle at $1,230.20 per ounce. Silver added 8 cents to $17.41 per ounce, and copper rose 1 cent to $2.69 per pound.