Wall Street advanced slightly Friday but finished the week lower after a better-than-expected employment report raised hopes about the economy's strength despite the recent hurricanes. The major indexes each lost more than 2 percent for the week.
The market came back Friday from three straight days of losses after the Labor Department said September payrolls fell by only 35,000 jobs. Fearing an economic slump after hurricanes Katrina and Rita, economists had forecast a drop of 150,000.
But while the Dow Jones industrial average rose as much as 60 shortly after the opening bell, stocks gave up most of their gains throughout the day as some investors were skeptical of the report. Investors also awaited clarity about the economy's health from upcoming third-quarter earnings and forward-looking estimates.
"Any celebration the market was going to put on was overshadowed by the fact that [the job loss] wasn't good news," said Arthur Hogan, chief market analyst at Jefferies & Co. "I think calmer minds prevailed."
The Dow Jones industrial average gained 5.21, or 0.05 percent, to 10,292.31.
Broader stock indicators were also higher. The Standard & Poor's 500-stock index rose 4.41, or 0.37 percent, to 1195.90, and the Nasdaq composite index rose 6.27, or 0.3 percent, to 2090.35.
Stocks lingered in a narrow range Friday to end a week complicated by inflation worries after Richard W. Fisher, president of the Federal Reserve Bank of Dallas, said inflation was approaching the high end of the Federal Reserve's comfort zone -- indicating the central bank's rate tightening will continue.
For the week, the Dow fell 2.62 percent, the S&P 500 lost 2.68 percent and the Nasdaq fell 2.84 percent.
A rise in oil prices broke a five-day slide as traders looked past news that U.S. fuel consumption declined last month to expectations for increased demand this winter. Benchmark crude rose 48 cents a barrel.
Delphi fell $1.08, or 49.1 percent, to $1.12, after the financially troubled auto-parts maker asked United Auto Workers members to accept huge cuts in pay and benefits as it tries to avoid filing for bankruptcy protection.
Staples rose 12 cents, to $21.47, after repeating expectations for earnings growth.
Accenture rose $1.42, to $26.67, after reporting 25 percent profit growth for the fourth quarter.
Blockbuster rose 97 cents, to $5.42, after saying it still expects to reach 2 million subscribers to its online rental service next year, but not by its previous target, the first quarter.
New York Stock Exchange composite index rose 35.53, to 7435.19.
American Stock Exchange index rose 23.26, to 1674.90.
Russell 2000 index of smaller-company stocks rose 4.88, to 644.33.
NYSE: 2.12 billion shares, down from 2.81 billion on Thursday. Advancers outnumbered decliners 3 to 2.
Nasdaq: 1.47 billion shares, down from 2.12 billion. Advancers outnumbered decliners 4 to 3.
Crude oil for November delivery: $61.84, up 48 cents.
Gold for current delivery: $474.70 a troy ounce, up from $471.90 on Thursday.