Wall Street finished lower Friday as investors, restrained by uncertainty about the economic impact of Hurricane Katrina, had little reaction to falling oil prices and unemployment. But major indicators gained for the week.
The market seesawed in Friday's session on news that unemployment reached a four-year low, and as energy prices retreated on signs that allied nations will help cushion a U.S. oil shortage. The numbers, however, were shadowed by fears that Katrina's devastation of the Gulf Coast could trigger a sharp economic downturn.
Wall Street felt some relief from a drop in oil prices, which fell after the government and members of the Paris-based International Energy Agency said they would tap reserves to counter disruptions to oil production in the Gulf of Mexico. Gasoline futures also eased for the first time this week.
Still, the Dow Jones industrial average fell 12.26, or 0.12 percent, to 10,447.37.
Broader stock indicators also were lower. The Standard & Poor's 500-stock index slipped 3.57, or 0.29 percent, to 1218.02, and the Nasdaq composite index closed down 6.83, or 0.32 percent, at 2141.07.
For the week, the Dow rose 0.48 percent, the S&P 500 added 1.07 percent, and the Nasdaq climbed 0.96 percent.
With no sign when shipping terminals along the Gulf Coast will resume operation, Wall Street is bracing for the worst.
Boeing fell $1.65, to $64.34, after its machinists union went on strike.
Northwest Airlines, whose mechanics are striking, fell 34 cents, to $3.63, after warning that it could lose $400 million this quarter as jet-fuel prices push it closer to filing for bankruptcy protection.
Albertson's, the nation's No. 2 supermarket chain, rose $2.32, to $23.05, after saying it might put itself on the auction block.
New York Stock Exchange composite index fell 12.72, to 7531.13.
American Stock Exchange index fell 1.31, to 1680.04.
Russell 2000 index of smaller-company stocks fell 5.12, to 663.33.
NYSE: 1.64 billion shares, down from 2.24 billion on Thursday. Decliners outnumbered advancers 6 to 5.
Nasdaq: 1.15 billion shares, down from 1.64 billion. Decliners outnumbered advancers 10 to 7.
Crude oil for October delivery: $67.57, down $1.90.
Gold for current delivery: $444.20 a troy ounce, up from $442.30 on Thursday.