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US STOCKS-Financial rally lifts Dow, S&P; week ends lower

Fri Sep 5, 2008 4:16pm EDT
 
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(Updates to 4 pm)

NEW YORK, Sept 5 (Reuters) - U.S. stocks ended their worst week in months with modest gains on Friday, as bargain-hunting among financial stocks offset a government report showing further deterioration in the U.S. labor market.

The Dow Jones industrial average .DJI was up 32.73 points, or 0.29 percent, at 11,220.96. The Standard & Poor's 500 Index .SPX was up 5.48 points, or 0.44 percent, at 1,242.31. The Nasdaq Composite Index .IXIC was down 3.16 points, or 0.14 percent, at 2,255.88.

For the week the Dow fell 2.8 percent, the S&P dropped 3.2 percent and Nasdaq fell 4.7 percent.

The S&P posted its worst one-week percentage drop since May. (Editing by Leslie Adler)

 

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