Dow snaps eight-session band as bolt weigh

NEW YORK – The Dow industrials airtight an eight-session acceptable band on Friday, as renewed worries about Greece sparked a ascend in the dollar and advised on U.S. stocks.

Sectors acute to dollar moves were hit hard, including materials, dent makers and energy. The S&P Activity Basis (.GSPE) was bottomward 0.9 percent as commodities, including gold and U.S. awkward oil futures, dropped. Dow basic Exxon Mobil (XOM.N) fell 0.5 percent to $67.04.

The euro fell to added than a two-week low adjoin the greenback on renewed worries about Greece's debt problems. Investors abhorrence abhorrence from the European Union's better economy, Germany, will arrest efforts to allay Greece's problems.

Greece "will consistently be over the bazaar until it's rectified in any way," said Peter Costa, admiral of Empire Executions in New York. "Until it's resolved, it's activity to be an issue."

Healthcare allowance stocks were amid the attenuate winners on Friday, advanced of an approaching aldermanic vote to check the U.S. healthcare system. The Morgan Stanley Healthcare Payor basis (.HMO) acquired 2.2 percent. The basis additionally got a lift from Aetna Inc (AET.N), which acquired 3.7 percent to $34.46 afterwards it anticipation first-quarter balance aloft consensus.

The Dow Jones automated boilerplate (.DJI) alone 37.19 points, or 0.35 percent, to end at 10,741.98. The Standard & Poor's 500 Basis (.SPX) absent 5.93 points, or 0.51 percent, to 1,159.90. The Nasdaq Composite Basis (.IXIC) afford 16.87 points, or 0.71 percent, to 2,374.41.

For the week, the Dow rose 1.1 percent, the S&P added 0.9 percent and the Nasdaq acquired 0.3 percent.

3M Co (MMM.N), which fell 2 percent to $81.96, was the top annoyance on the Dow as the adapted architect asleep assets fabricated in Thursday's session, back it was one of the top advancers in the baddest average.

Weighing on the Nasdaq was Palm Inc (PALM.O), which plunged 29.2 percent to $4.00 a day afterwards it warned that annual revenues would be far beneath expectations as low appeal for its smartphones larboard wireless carriers with balance inventory.

SunPower Corp (SPWRA.O) confused 14 percent to $18.96 a day afterwards it gave a weaker-than-expected accumulation angle for 2010, bidding a cardinal of analysts to cut their amount targets on the stock.

Volume has been attenuate during the anniversary and animation has alone considerably. The CBOE Animation Basis (.VIX) fell 3.5 percent this week.

Friday apparent the additional day of a aggregation accepted as quadruple witching, back four types of options and futures affairs expire, triggering animation and college volumes.

About 10.03 billion shares traded on the New York Banal Exchange, the American Banal Exchange and Nasdaq, aloft aftermost year's estimated circadian boilerplate of 9.65 billion.

Declining stocks outnumbered advancing ones on the NYSE by a arrangement of about 7 to 3. On the Nasdaq, eight stocks fell for every bristles that rose.

(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)

 

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