Stocks ended narrowly mixed in another lackluster session Friday as investors hesitated to remain long ahead of the weekend, but the major indexes still posted gains for the week with the S&P logging its best finish since June 2008.
The Dow Jones Industrial Average slipped 1.74 points, or 0.01 percent, to end at 12982.95.
The blue-chip index has flirted with the psychologically-significant 13,000 level all week after initially crossing the mark on Tuesday for the first time since May 2008, but has yet to close above the milestone.
The S&P 500 gained 2.28 points, or 0.17 percent, to finish at 1,365.74, logging its best close in almost 3-1/2 years. The Nasdaq rose 6.77 points, or 0.23 percent, to close at 2,963.75.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended above 17.
For the week, the Dow climbed 0.41 percent, the S&P advanced 0.33 percent, while the Nasdaq added 0.41 percent. For the week, P&G was the top gainer on the blue-chip index, while H-P was the biggest laggard.
Among the key S&P sectors, energy climbed the most for the week, while banks slumped.
“We’re at extraordinarily low volumes and the economic news has been marginally good at best with mixed earnings,” said Doreen Mogavero, president and CEO of Mogavero, Lee & Company. “Overall, it’s been an uneventful week.”
The NYSE average weekly volume hit its lowest level so far this year.
Meanwhile, oil prices settled near $110 a barrel, logging its fifth weekly gain, amid worries over cuts in Iranian supply. (Read More: Oil Above $120 Will Soon Hurt Stocks)
“Everyone’s going to continue watching oil,” said Mogavero. “People are feeling that if oil continues higher, it will crimp this recovery.”
China’s Proview, which has been suing Apple over the use of the iPad name, brought the court battle to U.S. shores, filing suit in a California court.
JC Penney erased early gains to close slightly lower even after the clothing retailer reported earnings that topped estimates.
