FILE - In this Thursday, Dec. 12, 2013, photo, trader Richard DeViccaro works on the floor of the New York Stock Exchange. World stock markets were tentative Friday Dec. 13, 2013 as investors prepared for the U.S. Federal Reserve's decision next week on whether to reduce its monetary stimulus. (AP Photo/Richard Drew)
Friday, December 13, 2013 4:14 pm
Stocks slightly higher after 3-day downturn
By JOSHUA FREEDAP Business Writer
Stocks closed slightly higher on Friday, but not enough to avoid a second losing week in a row. Indexes reached record highs as recently as Monday, but then declined.
Investors may be nervous that stocks are overpriced, that stock prices have grown faster than justified by profits. Some are worried the Federal Reserve will decide next week to reduce its economic stimulus.
The Dow Jones industrial average edged up 16 points, or 0.1 percent, to close at 15,755 points.
The Standard & Poor's 500 index was flat at 1,775. The Nasdaq composite rose two points, less than 0.1 percent, to 4,001.
Adobe Systems jumped 13 percent after reporting higher revenue for subscription-based software services.