Stocks up slightly on strong retail results

Trader Frank Cannarozzo, right, works on the floor

Trader Frank Cannarozzo, right, works on the floor of the New York Stock Exchange Wednesday. (Aug. 15, 2012) Photo Credit: AP

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Stocks resembled summer vacationers on Friday, rising not-too-impressively in the morning and then mostly laying around for the rest of the day.

Positive news from retailers was the main reason U.S. indexes posted small gains. Apple helped too by hitting a new high.

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And the dog days continued for Facebook. A 4 percent decline left its shares at $19.05, about half the price of its May initial public offering.

The Dow Jones industrial average rose 25.09 points to close at 13,275.20. The Standard & Poor's 500 index rose 0.19 percent to close at 1,418.16. The Nasdaq rose 0.46 percent to close at 3,076.59.

The modest gains put some indexes close to their highs for the year. The Dow is now within four points of 13,279, its high for the year set on May 1. The S&P 500 is within one point of its four-year high set on April 1.

The Dow has now risen eight out of the last 11 days and finished the week up a half-percent. The Dow is sporting a gain for the year of almost 8.7 percent, while the S&P 500 is up almost 12.7 percent.

Next week is likely to be more eventful. Investors will get Chinese housing reports, minutes from a closely watched Federal Reserve meeting, and jobless claims. -- AP

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