The Dow closed up +45.93 (+0.37%) at 12,588.31.
For the week DJIA was down -1.8%, Nasdaq -1.8%, S&P 500 -1.4% and Russell 2000 -2.4%.
Year-to-date DJIA is up +3.0%, Nasdaq +9.5%, S&P 500 +8.1% and Russell 2000 +4.8%.
Our year-to-date gains have been about halved in the last two weeks. Two Friday’s ago on November 02 our year-to-date gains were DJIA up +7.2%, Nasdaq +14.5%, S&P 500 +12.5% and Russell 2000 +9.9%.
There were 22 Dow stocks up, led by AA (+1.61%), HD (+1.42%), UNH (+1.27%), AXP (+1.23%) and PFE (+0.84%).
Losers were HPQ (-1.76%), WMT (-1.0%), T, VZ, MSFT, BA, DD and DIS.
There are no Dow stocks at 52 week highs.
There are 4 Dow stocks at 52 week lows and include INTC, HPQ, DD and MCD. INTC and MCD were up a bit Friday. HPQ and DD were not.
Now the question is do we rebound next week or do we continue downward after Friday’s gain?
Will we survive the fiscal cliff our government has brought upon us?
Most likely, and if you have sold some to raise cash you could profit by it.
Do you remember the 1987 crash, the Y2K bug or last years debt ceiling debacle?
All these events turned out to be buying opportunities and so will the fiscal cliff.
The dollar was up against the euro and Japanese yen, but slipped versus the British pound.
Crude oil for December delivery added $1.22 to settle at $86.67 a barrel.
Gold futures for December delivery gained 90 cents to settle at $1,714.70 an ounce.
The price on the benchmark 10-year U.S. Treasury was up, pushing the yield down to 1.58% from 1.59% late Thursday.
Something to keep an eye on is the violence in the Middle East. Israel launched a series of air strikes Wednesday on what it said were terrorist targets in Gaza, and the Palestinian group Hamas vowed retaliation.