Stocks fade, post first weekly loss in a month

May 24, 2013 @ 1:11 pm


FILE - In this Thursday, May 23, 2013, file photo, Trader Donato Cuttone works on the floor of the New York Stock Exchange near the close of trading. Asian shares traded erratically Friday May 24, 2013 but European markets found their footing, a day after global stocks were routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus. (AP Photo/Richard Drew, File) | Zoom

NEW YORK (AP) - Stocks prices are closing mostly lower on Wall Street, giving the market its first weekly loss in a month.

The Dow Jones industrial average edged up eight points to 15,303 Friday, a gain of 0.1 percent. The Dow was supported by a big gain in Procter & Gamble.

The Standard & Poor's 500 fell a point to 1,649, or 0.1 percent.

The market had its first weekly loss in five weeks. Anxiety over the Federal Reserve's bond-buying program was the main culprit.

The Nasdaq composite fell a fraction to 3,459.

Procter & Gamble surged 4 percent after the company said it's bringing back its former CEO.

More stocks fell than rose on the New York Stock Exchange.

Trading was thin ahead of Memorial Day. Volume was just 2.7 billion shares.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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