Updated from 4:09 p.m. EDT
Wall Street ended narrowly mixed Friday as a selloff in
kept the market in check and prevented the bulls from celebrating
Dow Jones Industrial Average
fell 9.36 points, or 0.08%, to 12,002.37, while the
tacked on 1.64 points, or 0.12%, at 1368.60. The
added 1.36 points, or 0.06%, to 2342.30.
For the week, the Dow gained 42 points, or 0.4%, and the S&P 500 was higher by 3 points, or 0.2%, but the Nasdaq slipped 15 points, or 0.6%.
About 2.61 billion shares changed hands on the
New York Stock Exchange
. Decliners beat advancers by a 6-to-5 margin. Volume on the Nasdaq was roughly 1.92 billion shares, and losers outpaced winners 3 to 2.
Internet search giant Google did it's part to support stocks, but Cat's weakness set a dour tone even before trading began. Cat posted a soft quarterly earnings number and then guided lower, sending shares of the Dow component down 14.5% to $59.
As for Google, following the close of the prior session it ran past Wall Street's third-quarter earnings targets, making $2.62 a share on an adjusted basis with net revenue of $1.87 billion.
Analysts were looking for a profit of $2.42 on sales of $1.81 billion. Shares of Google jumped by $33.61, or 7.9%, to $459.67.
To view Sandy Brown's video take on today's market, click here
On Thursday, the Dow spent much of the session hovering near the flat line, but at the end of trading the index had risen 19.05 points to 12,011.73, finishing above 12,000 for the first time ever.
"The market, by most daily measures, is entering the danger zone, overbought and on relatively low volume," said Paul Nolte, director of investments with Hinsdale Associates. "With the Dow pushing 12,000 and the other markets putting in some gains, the pressure is building for money managers to use excess cash."
Nolte added that "as long as the economic figures come out around expectations, we could see still higher stock prices as investors see little
intervention." The Fed will gather for a two-day meeting next week.
Cat was one of three Dow members posting results before the opening bell, but the other two fared much better.
topped analysts' third-quarter views and said its fourth quarter would be in line with estimates.
also exceeded targets and again lifted its full-year outlook.
3M gained 2.7% to $78.47, and Merck was higher by 2.6% to finish at $45.64.
earnings from continuing operations rose sharply in the third quarter to $1 billion, or 81 cents a share. Revenue climbed to $4.95 billion from $3.7 billion a year earlier. Schlumberger slid by $2.60, or 4.2%, to $60.10.
, profits beat analysts' third-quarter estimates. The company earned $309 million, or 19 cents a share, for the quarter ended Sept. 30, on sales of $2.57 billion. Analysts surveyed by Thomson Financial were looking for a 14-cent profit on sales of $2.49 billion. Shares added 35 cents, or 1.6%, to $22.68.
Among ratings changes, Stifel Nicolaus downgraded
to hold from buy. The firm cited increasing competition from Google. UBS downgraded
Whole Foods Market
to neutral from buy.
Still, Yahoo! managed to finish with a gain of 7 cents, or 0.3%, at $23.21. Whole Foods tacked on 5 cents, or 0.1%, to $64.75.
Outside of stocks, crude futures fell hard despite OPEC's decision to lower output by 1.2 million barrels a day in order to halt the recent tumble in prices.
Crude closed lower because members of the group have sometimes neglected to go along with production cuts, and the U.S. Energy Department said it believed the actual reduction would be around half of the amount threatened. Oil ended the session down $1.68 at $56.82 a barrel.
Overseas, European indices were mixed. London's FTSE 100 dipped 0.1% to 6147, and Germany's Xetra DAX was up 0.3% at 6198. Stocks were higher in Asia, as Japan's Nikkei finished up 0.6% at 16,651 and Hong Kong's Hang Seng gained 0.7% to 18,113.