Crude futures pushed to their 2006 high before paring gains. Elsewhere, Microsoft lost a $1.52 billion patent-infringement rulingStocks finished lower in lackluster trading Friday, as investors digested fluctuating oil prices, rising bond prices, and a lack of economic data. Worries over rising subprime mortgage defaults weighed on investment banking and thrift mortgage stocks. Traders were bracing themselves for next week's heavy slate of economic reports, says Standard & Poor's Equity Research.
On Friday, the Dow Jones industrial average fell 38.54 points, or 0.3%, to 12,647.48, declining for a third straight day. The broader Standard & Poor's 500 index dropped 5.18 points, or 0.36%, to 1,451.2. The tech-heavy Nasdaq composite was down 9.84 points, or 0.39%, to 2,515.1.
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