Warnings from semiconductor makers depressed tech stocks Friday, but bargain hunters kept the day's results mixed. The three major indicators ended the week substantially lower, however.
The Dow Jones industrial average Friday rose 8.34 , or 0.1 percent, to 10,047.24.
Broader stock indicators were narrowly mixed. The Standard & Poor's 500-stock index gained 1.75, or 0.2 percent, to 1110.11, and the Nasdaq composite index was down 6.95, or 0.4 percent, at 1879.48.
For the week, the Dow fell 2.3 percent, the S&P 500 was down 1.6 percent and the Nasdaq dropped 1.6 percent. Overall, it was the worst week for the markets since the first week of August.
Netherlands manufacturer Philips Electronics lost 26 cents, to $22.95, after it warned that its semiconductor sales in the third quarter would be flat compared with the previous quarter, reducing its previous outlook.
Consumer electronics maker Cirrus Logic lowered its sales forecast for the current quarter due to slow sales and high customer inventories. Cirrus Logic lost 19 cents, to $4.89.
Friday's economic data, which included a 0.5 percent drop in durable goods orders and a decrease in existing home sales, had little impact on investors, who seemed to be bargain-hunting after the week's substantial losses.
As in August, oil prices weighed heavily on stocks through the week, but profit warnings and disappointing earnings from companies -- including Morgan Stanley, Wendy's International, General Mills, Colgate-Palmolive and Unilever -- also drove prices lower.
Shares of mortgage giant Freddie Mac climbed 21 cents, to $64.59, despite the company's announcement that it reduced its overall 2003 earnings to reflect a $75 million reserve to be used for legal proceedings. The announcement came as sister company Fannie Mae was sharply criticized by the government for its accounting practices. Fannie Mae was down $1.64, at $65.51.
Starbucks rose 37 cents, to $45.04, after the coffee retailer said it would purchase up to 9 million shares in a stock buyback program.
* The New York Stock Exchange composite index rose 9.94, to 6531.37; the American Stock Exchange index rose 3.51, to 1264.97; and the Russell 2000 index of smaller-company stocks rose 0.17, to 565.97.
* Advancing issues outnumbered declining ones by 5 to 4 on the NYSE, where trading volume fell to 1.25 billion shares, from 1.28 billion on Thursday. On the Nasdaq Stock Market, decliners narrowly outnumbered advancers and volume totaled 1.35 billion, down from 1.38 billion.
* The price of the Treasury's 10-year note fell 65 cents per $1,000 invested, and its yield rose to 4.03 percent, from 4.02 percent on Thursday.
* The dollar rose against the Japanese yen and the euro. In late New York trading, a dollar bought 110.68 yen, up from 110.55 late Thursday, and a euro bought $1.2268, down from $1.2314.
* Light, sweet crude oil for November delivery settled at $48.88, up 42 cents, on the New York Mercantile Exchange.
Gold for current delivery fell to $408.10 a troy ounce, from $410.90 on Thursday, on the New York Mercantile Exchange's Commodity Exchange.