Stocks Finish Tough Week With Slight Gains
NEW YORK (TheStreet) -- The major U.S. averages edged up Friday as a strong read on American consumer confidence provided a slight respite from worries about the fiscal cliff and the eurozone.
Stocks pared early gains, however after President Barack Obama addressed the U.S. fiscal cliff at the White House's East Room on Friday afternoon. Congress is expected to begin tackling the issue next week. Obama reiterated his belief that higher taxes for wealthy Americans will be necessary to address the deficit.
The Dow Jones Industrial Average added a little more than 4 points, or 0.03%, to close at 12,815. The blue-chip index lost 2.12% for the week, its worst performance in more than five months. Year-to-date, it's still up 4.89%.
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