Saturday, January 8, 2011

Dow Dips but Finishes Week Higher

Stocks finished lower Friday following a weaker-than-expected December jobs report and an adverse court ruling related to foreclosure liabilities that sank bank stocks.

The Dow Jones Industrial Average shed 23 points, or 0.2%, to close at 11,674. Earlier in the session, the bellwether index dipped as low as 11,599. The S&P 500 finished lower by 2 points, or 0.2%, at 1,271, andNasdaq Composite slumped 6 points, or 0.2%, to settle at 2,703.
Still, the Dow managed to advance for the sixth consecutive week, starting the year with an 0.8% gain. The S&P 500 rose 1.1%, while the Nasdaq surged 1.9%. For the Dow, the rise was its biggest weekly advance since the week ended Dec. 3. It was also a good sign for the rest of 2011 as the Dow has finished in positive territory 74% of the time when it posts a gain for the first five trading days of the year.


Dow Jones Industrial Average

 (DJI: ^DJI )
Index Value:11,674.76
Trade Time:4:03PM EST
Change:Down 22.55 (0.19%)
Prev Close:11,697.31
Open:11,696.86
Day's Range:11,599.68 -11,726.94
52wk Range:9,596.04 -11,795.80

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