Stocks finished slightly lower, led down by energy and industrial shares, but shares of online business-review site Yelp skyrocked 63% to more than $24 a share on their first day of trading. Brendan Conway has details on The News Hub. Photo: AP
Stocks finished slightly lower, with the Dow industrials seeing their first weekly loss in three weeks despite closing above 13000 on Tuesday.
Without major economic data releases or corporate news to provide direction, stocks drifted lower. Indexes fell on the open and continued downward until midafternoon on Friday, then recovered and peaked briefly into positive territory before falling back.
The Dow Jones Industrial Average lost 2.73 points, or 0.02%, to 12977.57. The Standard & Poor's 500-stock index dropped 4.46 points, or 0.3%, to 1369.63, and the Nasdaq Composite closed down 12.78 points, or 0.4%, at 2976.19.
The Dow fell less than the other indexes primarily on the strength of International Business Machines, which rose $1.28, or 0.7%, to $198.81. The move accounted for nearly 10 points in the Dow's performance.
Otherwise, seven of the S&P's 10 sectors were lower, led by energy and industrial shares. Blue chips were weighed down by American Express, which declined 58 cents, or 1.1%, 52.99.
Meanwhile, shares of online business-review site Yelp began trading in their stock-market debut, rising 9.58, or 64%, to 24.58.
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Close Associated PressTraders on the floor of the New York Stock Exchange earlier this week.
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