Stocks End Little Moved; Virgin America Flies on Debut Day, Apple Hits New Record

After hitting all time highs on Thursday, the S&P remained unchanged and the Dow ended the week modestly lower.
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After hitting all time highs on Thursday, the S&P remained unchanged and the Dow ended the week modestly lower. The Nasdaq, however, pushed up further with Virgin America's successful takeoff. The airline stock jumped 30% in its debut. Apple made another record high, touching $114 and change. New gadgets in the pipeline, eye catching iPhone sales and, most importantly, growing presence around the world convinced investors that Apple's best days are ahead. As of the end of Friday, Apple's market cap is $668 billion. Apple's rise made up for some other names on Nasdaq that didn't do well. The biotechnology index lost over 2% on the day, led by a 4% drop in Biogen Idec. But that loss is insignificant compared to Hertz Global Holdings. Shares of the car rental giant tanked as much as 13% intraday and closed down 5% after saying it needs to restate three years of financial results. Auditors found mistakes on Hertz's statements and they will need to be corrected. Lastly a quick check on crude oil, which has been making headlines all week. Western Texas crude finished the week around $76 per barrel after touching $73 overnight into Friday. Some commodity players stocked up on the contracts because they think the cold weather factor is not priced in yet.