This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks Finish Mixed on Late Weakness

NEW YORK ( TheStreet) -- The major U.S. equity averages finished mixed on Friday with the Dow Jones Industrial Average posting its first down week of the month.

Equities were in positive territory for most of the session with investor sentiment lifted by hopes for clarity on a rescue program for Spain, strong quarterly results from homebuilder KB Home (KBH) and the global availability of Apple's (AAPL - Get Report) iPhone 5, but selling pressure arrived in the final hour.

The Dow fell more than 17 points, or 0.13%, to close at 13,580. The blue-chip index, which was up nearly 50 points at its high for the day, snapped a three-session winning streak and was down 0.10% for the week.

Decliners outpaced advancers within the Dow, 17 to 13. The biggest losers were Alcoa (AA), Cisco (CSCO) and Coca-Cola (KO).

Blue-chip winners included Exxon (XOM), General Electric (GE), and McDonald's (MCD), which rose 0.60% after announcing a 15% dividend hike.

The S&P 500 was down incrementally, slipping 0.01%, to settle at 1460. The index finished the week down 0.41%. The Nasdaq was the lone winner, adding 4 points, or 0.13%, to close at 3180. The tech-heavy index lost 0.12% on the week.

The strongest sectors in the broad market were health care and energy. Transportation, basic materials and consumer non-cyclicals were in the red. Volume totaled 4.75 billion on the New York Stock Exchange and 2.53 billion on the Nasdaq.

There was some optimism in early trading following a report that European Union officials are working to pave the way for a new rescue program for Spain. The Financial Times said an economic reform package for Spain is expected to be revealed next week.

The paper said the program will concentrate on structural reforms for Spain's economy instead of more taxes and spending cuts.

"With the decision-making process of the Euro area distilled down to a very small number of people, such stories are just speculative," noted Paul Donovan, global economist at UBS. "However, Spanish conditions relating to structural reform not fiscal targets would be helpful, as Spain stands a good chance of missing its fiscal targets."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
DRI $62.25 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs