NEW YORK (MarketWatch) — U.S. stocks on Friday closed their worst week in four months nearly unchanged, with the market stalling as worries about Europe overcame an unexpected rise in U.S. consumer confidence.
Stocks had gained after a gauge of consumer confidence unexpectedly jumped in October and after J.P. Morgan Chase & Co. JPM earnings cast a positive light on the housing market.
But Wall Street gains were limited, with October so far proving to be a lackluster month for U.S. equities, after a steady climb that had the S&P 500 Index SPX -0.30% advancing 2% and more in both August and September.
Relinquishing what had been a 74.93-point advance, the Dow Jones Industrial Average DJIA +0.02% ended with a 2.46-point gain at 13,328.85, leaving it off 2.1% from the week ago close.
Down 2.2% for the week, the S&P 500 SPX -0.30% fell 4.25 points, or 0.3%, at 1,428.59, with the consumer-staples sector the best performing of its 10 industry groups and financials the heaviest weight. The Nasdaq Composite Index COMP -0.17% lost 5.3 points, or 0.2%, at 3,044.11.
For every stock rising, almost two fell on the New York Stock Exchange, where 624 million shares traded. Composite volume surpassed 3.1 billion.