NEW YORK (

TheStreet

) -- Stocks ran in place Friday, lacking direction in the absence of any new economic news. Although earnings reports continued to beat expectations, investors saw little reason to act during the sluggish session.

The major indices locked in marginal weekly gains, marking the third consecutive week that the

Dow Jones Industrial Average

has advanced. During Friday's session, the Dow lost 14 points, or 0.1%, to 11,133 but gained 0.6% on the week. The

S&P 500

closed 3 points higher at 1183 and also saw a weekly increase of 0.6%. Meanwhile, strength across the tech sector helped the

Nasdaq

finish 20 points, or 0.8% higher at 2479 with a weekly gain of 0.4%.

Despite better-than-expected results from

American Express

(AXP) - Get Report

late Thursday, the stock remained the Dow's worst-performer throughout the session followed by Verizon and

Home Depot

(HD) - Get Report

.

Meanwhile,

Hewlett-Packard

(HPQ) - Get Report

,

Cisco Sytems

(CSCO) - Get Report

and

Walt Disney

(DIS) - Get Report

had the strongest gains of the day.

Finance ministers and central bankers from the

Group of 20 major and emerging economies meet are meeting in South Korea on Friday and Saturday to debate currency valuations ahead of November's G-20 summit in Seoul. According to a

Reuters

report, U.S. Treasury Secretary Timothy Geithner saw little support for his proposal that countries limit account imbalances to 4% of gross domestic product. The measure was designed to compel China to strengthen its currency.

Overseas on Friday, Hong Kong's Hang Seng fell 0.6% while Japan's Nikkei added 0.5%. The FTSE in London inched 0.3% lower and the DAX in Frankfurt shed 0.08%.

Meanwhile, France's upper house of Parliament voted in favor of raising the retirement despite the rash of protests and strikes that erupted in response to the bill.

With no economic data scheduled for release on Friday, the market had little to trade off of outside of earnings news.

Earlier, Mike Shea, managing partner at Direct Access Partners said, "It's another one of those quiet Fridays." He noted that volume in the first hour of trading was down 26% from the previous session when trading volumes didn't pick up until later in the morning.

"I think something like 85% of all companies that have reported have met or exceeded expectations -- you'd have to think that a lot of that is already baked into the market," he said, adding that recent technical research suggests that the market is a little stretched. "This weekend, we have some global/macro issues and then it's Election Day with the Fed meeting the next day. That's really what the market is looking to, and it can't come here fast enough."

Honeywell

(HON) - Get Report

said net income fell 18% to $499 million, or 64 cents a share, on revenue of $8.39 billion. But the company beat analysts' expectations for a profit of 62 cents on revenue of $8.22 billion. Shares gained 1.3% to $47.26.

Verizon

(VZ) - Get Report

topped estimates by 2 cents with adjusted earnings of 56 cents a share on sales of $26.5 billion. The stock slipped 1.3% to $32.09.

Shares of

Ingersoll-Rand

(IR) - Get Report

rose 1% to $39.35 as the company reported adjusted earnings of 80 cents a share on revenue of $3.73 billion. Analysts had expected a third-quarter profit of 79 cents a share on sales of $3.73 billion.

Schlumberger

(SLB) - Get Report

reported an adjusted profit of 70 cents a share on sales that rose 26% to $6.85 billion, which was slightly better than expected. Shares rose 5.4% to $67.77.

KeyCorp

(KEY) - Get Report

more than tripled its second-quarter profit, easily surpassing analysts' expectations for earnings of 3 cents a share with a profit of 19 cents a share. The stock slipped 0.5% to $8.30.

Financial services holding company

T. Rowe Price

(TROW) - Get Report

said earnings rose to 64 cents a share, topping estimates by 4 cents. Revenue increased to $586.1 million, from $498.1 million a year ago. The stock gained 4.2% to $54.89.

Athenahealth

(ATHN) - Get Report

topped profit estimates by a nickel and reported revenue that was roughly a million dollars above expectations. The stock jumped 22.7% to $37.42.

In non-earnings news,

Caterpillar

(CAT) - Get Report

agreed to buy German engine manufacturer

MWM Holding

for €580 million ($807.2 million). Caterpillar's stock traded 0.7% lower to $78.33.

Shares of

U.S. Bancorp

(USB) - Get Report

added 1% to $23.59 despite an upgrade to buy at Oppenheimer.

In commodity markets, the December crude oil contract gained $1.1 to settle at $81.69 a barrel. Meanwhile, the December gold contract shed 50 cents to settle at $1,325.10 an ounce.

Meanwhile, the dollar traded lower against a basket of currencies with the dollar index down by 0.02%. The benchmark 10-year Treasury note fell 6/32, increasing the yield to 2.561%.

--Written by Melinda Peer in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.