Market in holding pattern over brewing currency battle
The Dow Jones industrial average rose for a third-straight week, capping a two-month period in which the index has ended 7 out of 8 weeks higher than where it started.
Stocks ended on a mixed note Friday. The Dow finished slightly down, while the broader Standard & Poor's 500 index and the technology-focused Nasdaq both ended with gains.
The market appeared to be in a holding pattern as investors turned their attention to a meeting of finance ministers and central bank governors in Korea. The group is meeting as tensions grow over a brewing currency battle that could affect global trade.
"Everyone is trying to get out of the economic doldrums by exporting," said Bruce McCain, chief investment strategist at Key Private Bank.
There are worries that some countries, like China, are holding their currencies at artificially low levels for an advantage in exporting goods.
The Dow Jones industrial average fell 14.01 points, or 0.1 percent, to 11,132.56. The Standard & Poor's 500 index rose 2.82, or 0.2 percent, to 1,183.08, and the Nasdaq composite index rose 19.72, or 0.8 percent, to 2,479.39. - AP
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