Lucky 13: Stocks End High On Friday 13th

8:01 PM, Sep 13, 2013   |    comments
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Stocks ended higher Friday despite the day's reputation for the scary and spooky as diplomatic efforts continued to contain the crisis in Syria.

The Dow Jones industrial average closed up 75 points, 0.5%, to 15,376. The Standard & Poor's 500 index finished up 5 points, 0.3%, to 1,688. And the tech-laden Nasdaq composite index gained 6 points, 0.2%, to close at 3,722.

Major market indexes have been closing in the green for over a week. Friday gains would extend the winning streak.

Optimism that a U.S. military strike against Syria can be avoided sent oil prices lower and persuaded some investors to leave the safe haven of government bonds and gold.

The yield on the bellwether 10-year Treasury ended at 2.89%, down from 2.9% Thursday. The price of crude oil fell 6 cents to end the week at $108.53 in futures contract trading on the New York Mercantile Exchange. The price of gold fell for the second straight day, down $7, 0.5%, to end at $1,324 per ounce in futures trading.

The White House denied a report in the Japanese newspaper Nikkei, which said that President Obama is set to name former Treasury Secretary Lawrence Summers as the next chairman of the Federal Reserve. The Nikkei cited unnamed sources for its report.

In global markets, the Nikkei 225 index in Toky ended up 17.40 points, 0.1%, to 14,404.67. Hong Kong's Hang Seng index fell 38.44 points, 0.2%, to 22,915.28, and Singapore's Straits Times index closed down less than a point to 3,120.30.

In Europe, London's FTSE 100 index closed down 8.47 points, 0.1% to 6,580.51. Frankfurt's DAX 30 index finished up 15.42 points, 0.2%, to 8,509.42, and the CAC 40 index in Paris ended up 7.87 points, 0.2%, to 4,114.50.

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