Stocks End Just Higher Ahead of Holiday Weekend

4:11 PM, Feb 17, 2012 -- Stocks finished mostly higher Friday, supported by gains among energy and financial companies along with selected consumer firms although the advances were slow after an initial jump soon after the starting bell.

Stocks were broadly higher heading out of the gate this morning and picked up steam after the index of U.S. leading economic indicators was 0.4% higher in January, its fourth consecutive monthly increase. The January number was slightly below the consensus 0.5% gain predicted by experts polled by Bloomberg News, but was coupled with an upwardly revised 0.5% increase in December, limiting any downward bias on the news.

Traders also were cautiously optimistic that Greece can avoid defaulting on its debt. Greek political leaders said today they have complied with all of the conditions asked of them to secure a 130-billion-euro rescue package and finance ministers from the European Union are scheduled to meet in Brussels on Monday for a likely vote on the bailout plan. But with a long weekend spanning the upcoming decision, many market participants seemed unwilling to stake long positions over the three-day break should the bailout plan unravel yet again.

Also keeping a lid on advances today were data showing U.S. consumer prices rose 0.2% during January, the highest rate in four months. February options also were expiring Friday, which typically spurring increased volatility during the final hour of trade.

The U.S. House and Senate both approved legislation cutting payroll taxes and extending unemployment insurance benefits through the end of 2012. The measure now goes to President Obama for his signature. Because approval of the extension was expected, the vote did not appear to have much of an impact on stocks.

Six of the nine S&P industry sectors were positive today, with material and industrial stocks joining energy, financial and consumer discretionary stocks with gains. Technology shares were edging into the black late. Healthcare stocks were lower as disappointing news for Gilead Sciences Inc (GILD), which said some patients treated its Hepatitis C drug relapsed after they stopped using the drug, helped drag down the entire sector.

In other company news, General Mills (GIS) and Nordstrom (JWN) finished lower today after paring their 2012 earnings guidance. Biotech Cell Therapeutics (CTIC) soared after European regulators gave conditional approval to its drug treatment for non-Hodgkin's B-cell lymphoma.

Commodities are mixed with April gold falling $2.80 to finish at $1725.70 an ounce, March silver lost 15 cents to end at $33.24 and March copper lost 9 cents, settling at $3.71 a pound. Crude oil was higher, with the NYMEX March contract settling 93 cents higher at $103.24 after earlier touching $103.57. But Brent futures lost ground today, sliding about 0.5% to end at $119.55 a barrel.

Here's where markets stand at end-of-day:

Dow Jones Industrial Average up 45.79 (+0.35%) to 12,949.87.

S&P 500 up 3.19 (+0.23%) to 1,361.23.

NASDAQ Composite down 8.07 (-0.27%) to 2,951.78.

GLOBAL SENTIMENT

Nikkei up 1.58%.

Hang Seng up 1.01%.

Shanghai Composite up 0.01%.

UPSIDE MOVERS

(+) RAIL, Q4 EPS of $0.71 beats analyst consensus by $0.58 a share; revenues also top estimates.

(+) STP, Sees revenue above Street estimates.

DOWNSIDE MOVERS

(-) SCON, Prices 4.4-million share offering at $1.05 each, a 16% discount to Thursday close.

(-) GILD, Issues disappointing Hep C study data.

(-) ARUN, Q2 loss widens.