"Stocks Slip Late, but Still Gain for the Week"
"A weak report on economic growth set back the stock market on Friday, but thanks to a rally earlier in the week, the market ended up with a five-day gain.
The Commerce Department said on Friday that the economy grew at a 1.6 percent annual rate in the third quarter -- the lowest quarterly rate in more than three years. While slowing economic growth might help reduce inflationary pressures, it could make it difficult for many corporations to meet their profit targets, so the report put a bit of a chill into the stock market.
Until Friday, though, the Dow Jones industrial average set a record high each day of the week.
Caterpillar, which was the worst weekly performer in the Dow for the week ended Oct. 20, was at the top of the stock performance chart last week, with a gain of 3.9 percent.
For the week, the Dow gained 87.89 points, or 0.7 percent, to close at 12,090.26. The Standard & Poor's 500-stock index climbed 8.74 points, or 0.6 percent, to close at 1,377.34. The Nasdaq composite index rose 8.32 points, or 0.4, percent, to close at 2,350.62.
The yield on the 10-year Treasury note dropped to 4.67 percent from 4.79 percent the previous week.
JEFF SOMMER
DataBank"