NEW YORK ( TheStreet) --The major U.S. equity indices wrapped up their best first quarter since 1998 with a mixed finish on Friday.
The Dow Jones Industrial Average and S&P 500 both gained ground, helped by a positive read on consumer sentiment and the eurozone's move to bolster its rescue fund. The Nasdaq Composite, however, slipped as Apple (AAPL) dropped lost 1.7% and dropped back below $600 for the first time in a week after a labor advocacy group reported difficult worker conditions at Foxconn, a major supplier to the iPhone and iPad maker.
The S&P 500, which has increased 12% year-to-date, has only seen double-digit first-quarter gains 11 times since 1928. The index was up 5 points, or 0.4%, to close at 1408 on Friday.
The Dow Jones Industrial Average was higher by 66 points, or 0.5%, to finish at 13,212. The blue-chip index rose more than 994 points in the first quarter, its biggest point gain ever, according to Dow Jones Indexes. After booking a 5% gain in 2011, the index is up 8.1% so far this year.The Nasdaq, which notched its seventh consecutive week of gains, was down 4 points, or 0.1%, to close at 3092. The tech-heavy index surged 18.7% in the first quarter.
2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV