Stocks Fall Flat After Positive Week
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Hemera/Thinkstock(NEW YORK) — Another round of economic reports lifted stocks briefly Friday, until an index of consumer confidence eroded weekly gains. Still, all the major averages added 2.5 percent this week.
The Dow Friday lost 20 points to close at 13,233. The Nasdaq closed the week off just a point, while the S&P gained half a point.
A sharp jump in gas prices drove consumer costs up in February. But outside the higher pump prices, inflation remained tame.
Meanwhile Apple shares were lower Friday, dispute the release of the iPad. Still, the tech giant’s revenue growth is up between 40 and 50 percent.
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