Stocks end week on down note, but up for quarter
ASSOCIATED PRESS September 28, 2012 8:16AM
Updated: September 28, 2012 3:26PM
NEW YORK — Stocks are ending the week on a down note.
The Dow Jones industrial average closed down 49 points Friday at 13,437. The Standard & Poor’s 500 index is closing down six at 1,441. And the Nasdaq composite index finishes the day down 20 at 3,116.
It’s the fifth loss in six trading sessions for the Dow and the sixth in the last seven sessions for the S&P.
Investors are still nervous about Spain, even though the results of stress-tests for the nation’s most troubled banks provided no surprises. A report showing that high gasoline prices were the only reason that U.S. consumer spending rose last month also weighed on market sentiment.
Even with the declines, the three major indices are posting solid gains for the quarter.