Stocks fade, post first weekly loss in a month

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Associated Press

Posted on May 24, 2013 at 4:02 PM

Updated Friday, May 24 at 4:02 PM

NEW YORK (AP) — Stocks prices are closing mostly lower on Wall Street, giving the market its first weekly loss in a month.

The Dow Jones industrial average edged up eight points to 15,303 Friday, a gain of 0.1 percent. The Dow was supported by a big gain in Procter & Gamble.

The Standard & Poor's 500 fell a point to 1,649, or 0.1 percent.

The market had its first weekly loss in five weeks. Anxiety over the Federal Reserve's bond-buying program was the main culprit.

The Nasdaq composite fell a fraction to 3,459.

Procter & Gamble surged 4 percent after the company said it's bringing back its former CEO.

More stocks fell than rose on the New York Stock Exchange.

Trading was thin ahead of Memorial Day. Volume was just 2.7 billion shares.

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