S&P 500 gains Friday, but drops 2.1% for the week

NEW YORK (MarketWatch) — The Dow Jones Industrial Average (DJI JIA) and the S&P 500 index (SNC:SPX) posted modest gains on Friday, while the Nasdaq Composite index (NASDAQ:COMP) finished lower, weighed down by Oracle Corp. (NASDAQ:ORCL) . U.S. stocks posted losses for the week, which was marked by turbulence sparked by the Federal Reserve’s signal that it plans to scale back quantitative easing later this year. The Dow gained 41.08 points, or 0.3%, on Friday to end at 14,799.40, leaving it down 1.8% for the week. The S&P 500 rose 4.24 points, or 0.3%, to 1,592.43, leaving it down 2.1% for the week. The Nasdaq Composite slipped 7.39 points, or 0.2%, to 3,357.25, posting a decline of 1.9% for the week.