December 2, 2011 in Business

Markets mixed despite positive job market news

Associated Press

NEW YORK — The best week for the stock market in more than two years is ending with major indexes nearly unchanged.

A surprise drop in the U.S. unemployment rate sent stocks higher early Friday, but the gains fizzled throughout the afternoon. European stock indexes and the euro rose after German Chancellor Angela Merkel made a speech pushing for tighter rules on government spending.

The Dow Jones industrial average fell less than a point to close at 12,019. The S&P 500 index also fell less than a point to 1,244. The Nasdaq rose under a point to 2,627.

More than three stocks rose for every one that fell on the New York Stock Exchange. Trading volume was below average at 4 billion.

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