WINDERMERE, Fla. (Stockpickr) -- U.S. stocks finished lower on Friday as traders remained cautious due to the continued uncertainty surrounding the European sovereign-debt crisis, specifically focused on Greece and the possibly consequences for the euro.
That uncertainly was only heightened Friday after German Chancellor Angela Merkel said few countries in the G-20 had committed to providing more resources for a eurozone rescue fund. Market players seemed to be in a risk off mood since the possible failure of Europe to agree on a eurozone bailout package could be another nightmarish scenario for the markets.
Despite the weakness in the broad indices on Friday, there were many stocks that were breaking out and printing new 52-week highs. One example of both was coffee king Starbucks (SBUX), which reported solid earnings and saw its stock close very close to its all-time high of $44.69, which was hit earlier in the day.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV