YAHOO [BRIEFING.COM]: A lack
of positive catalysts and a stronger dollar weighed on stocks for the entire
session and helped hand the market a fractional loss for the week.
An earnings miss last evening
from Dell (DELL 14.29, -1.58) had already put participants in
a dour mood, while weakness in overseas markets also weighed on things --
Asia's major indices slid amid reports that policymakers are talking about the
possibility of imposing capital controls, while Europe's bourses moved lower
following discussions of withdrawing liquidity measures from European Central
Bank (ECB) President Trichet.
The U.S. dollar finished with
a gain of just over 0.4%, about half of what it had sported at its session
high. Its strength proved burdensome for the broader market for the entire
session, though there were a few advancers.
Pharmaceuticals were able to
advance 1.2%. That helped the health care sector finish with a 0.6% gain.
Utilities (+0.2%) and consumer staples (+0.1%) were the only other two sectors
to advance.
Energy was the worst
performing sector. It fell 0.9%, due to broader market pressure and a 0.8% drop
in oil prices, which took oil to $76.83 per barrel.
Gold was able to break free
from the grip of a stronger dollar, however. The yellow metal had been in
negative ground in the early going, but settled with a 0.6% gain at $1148.40
per ounce.
Still, general weakness among
stocks gave the S&P 500 its third straight loss and a weekly decline of
0.2%, its first of the month. Stocks are up roughly 1.1% month-to-date, though.
Advancing Sectors: Health Care (+0.6%), Utilities (+0.2%),
Consumer Staples (+0.1%)
Declining Sectors: Energy (-0.9%), Tech (-0.6%), Consumer
Discretionary (-0.6%), Financials (-0.6%), Industrials (-0.3%), Telecom (-0.2%),
Materials (-0.1%)DJ30 -14.28 NASDAQ -10.78 NQ100 -0.5% R2K -0.2% SP400 -0.6%
SP500 -3.52 NASDAQ Adv/Vol/Dec 1219/1.97 bln/1442 NYSE Adv/Vol/Dec 1271/1.14
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