NEW YORK — After a volatile week, U.S. stocks closed nearly flat over five sessions as worries over the rate of Chinese growth and the stability of European economies mounted and ebbed.
The Dow Jones industrial average closed up 22.32 points, or 0.2 percent, at 11,203.55 on Friday. The measure rose 0.1 percent over the week. The Dow worked its way higher late in the session Friday as worries eased about the impact of more tightening in China. Many in the market already had braced for further curbs earlier in the week.
Boeing was the measure’s worst performer, with a 1.6 percent drop, while Walt Disney was also weak, off 1.5 percent. Helping limit the drop, Hewlett-Packard climbed 1.9 percent ahead of its fiscal fourth-quarter earnings report Monday.
The Nasdaq composite added 3.72 points to 2,518.12. The Standard & Poor’s 500 edged up 3.04 points to 1,199.73.
Concerns gradually eased Friday after China raised its banks’ reserve requirements for the second time in as many weeks. While markets plunged earlier in the week on worries that tighter monetary policy in China could cut demand for U.S. goods and commodities, investors seemed hopeful Friday that China’s rate of growth would remain strong, even with curbs to check inflation.
The market’s earlier decline Friday was also cushioned by comments from Irish Prime Minister Brian Cowen, who said the second day of talks on a possible aid package with European counterparts was “going well.” Cowen’s comments come as officials from the European Union, the European Central Bank and the International Monetary Fund are in Dublin to examine Ireland’s finances and banking system.
In addition to concerns over the Chinese and European economies, investors said the market was still uneasy over the long-term effects of the Federal Reserve’s $600 billion program of bond buying, known as quantitative easing.
Among stocks in focus, General Motors rose 0.2 percent to $34.26 after giving back some of its gains made Thursday when the auto company returned to the public market.
