Stocks Lose Momentum, But Edge Up

Economy

There was little economic news Friday to fuel the stock market’s winter rally, and the upward momentum nearly stalled.

The Dow Jones industrial average edged up 0.50 to 8,370.10, but closed the week with a gain of 180.61.

In economic reports this week:

The Commerce Department said inventories at American businesses increased 0.4 percent in December to a seasonally adjusted $1.05 trillion following a 0.3 percent advance in November. December marked the 18th month without a decline.

A slump in auto sales offset a surge at department stores, holding retail spending overall to a tepid 0.1 percent increase in January, the Commerce Department said.

The rise in retail spending, to a seasonally adjusted $214.8 billion, followed a moderate 0.3 percent gain in December and a tiny 0.1 percent advance in November.

Nationwide, the median price of a single-family existing home rose 5.0 percent to $124,100 last year from $118,200 in 1996, the National Association of Realtors said in its quarterly report.