Late Rally Lifts Dow, but Nasdaq Slips

Updated from 3:41 p.m. EDT

Blue chips dug themselves out of early losses to end higher Friday, though tech shares ended to the downside, as investors dealt with mixed earnings reports, resurging oil prices and a confirmation of poor consumer-sentiment numbers.

After having posted declines for much of the day, the Dow Jones Industrial Average closed up 44 points to 12,893, and the S&P 500 rose 9 points to 1398. The Nasdaq Composite remained in the red, however, dragged lower by Microsoft's (MSFT Quote) disappointing near-term guidance. The index was in better shape at the fniish, but still lost 6 points to 2423.

"I think we're just seeing a normal Friday in a somewhat jittery market," said Steven Sheldon, CFA and principal with SMS Capital Management. "I think the market's just getting set up for next week's [Federal Reserve] meeting, and oil prices continue to be rather volatile. Every day we're getting head-faked up and down." ...