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 - Get Report), 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.