US Markets

U.S. stocks ended the week with a whimper Friday as continued jitters surrounding Europe's debt crisis weighed on investor sentiment. The Dow Jones Industrial Average dropped 2.42 points, or 0.02%, to 11866.39, after earlier rising nearly 100 points. International Business Machines had the biggest percentage decline among the blue chips, falling $3.91, or 2.1%, to 183.57, while United Technologies dropped 1.14, or 1.6%, to 72.39. The Standard & Poor's 500-stock index tacked on 3.91 points, or 0.32%, to 1219.66.

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The technology-heavy Nasdaq Composite rose 14.32 points, or 0.56%, to 2555.33. Fitch Ratings placed its ratings on six euro-zone nations including Spain and Italy on watch for downgrade after it concluded a comprehensive solution to the region's debt crisis is technically and politically beyond reach. Late Friday, Moody's Investors Service downgraded Belgium two notches, citing risks to and uncertainties about funding, economic growth and the nation's balance sheet.

Data showed U.S. consumer prices were unchanged in November as a drop in energy costs offset a slight rise in food prices and other items. The consumer price index was unchanged in November from the previous month, meeting economists' expectations. In corporate news, shares of Research In Motion tumbled 1.69, or 11%, to 13.44, after the company's weak earnings raised fresh questions about how it will survive against growing competition from Apple and Google. Zynga priced its initial public offering of 100 million shares of common stock at $10 a share, which valued the company at about $8.9 billion, including stock options. The stock popped more than 10% after it started trading, but it quickly fizzled. Shares closed down 50 cents, or 5%, at 9.50.

European Markets

European stocks dropped Friday, posted a loss for the week amid continued worries about the sovereign-debt crisis in the euro zone. The Stoxx Europe 600 index fell 0.4% to 233.71. The Stoxx 600 index fell 2.8% in a week that saw investors continuing to fret over the sovereign-debt crisis.

International Monetary Fund chief Christine Lagarde said Thursday that the global economic outlook was quite gloomy. She called for international help to battle the sovereign-debt crisis, which some observers read as a sign the situation was worsening. A big decliner on the Stoxx 600 index was Swedish wireless-equipment maker L.M. Ericsson AB, shares of which fell 3.7% after UBS cut its rating to neutral from buy.

The U.K.'s FTSE 100 index fell 0.3% to 5,387.34, with hedge-fund manager Man Group PLC down 4.4%. Mining stocks advanced in London as base and precious metals prices climbed following sharp falls earlier in the week. Rio Tinto PLC rose 1% and Xstrata PLC added 2.3%. Financials remained in the spotlight for investors. Fitch Ratings cut the issuer default and viability ratings of BNP Paribas SA and the viability rating of Societe Generale SA late Thursday. SocGen's shares rose 1.5% in Paris, while BNP fell 0.6%. The French CAC 40 index fell 0.9% to 2,972.30, pressured as heavyweight Total SA sank 1.9% amid lower oil prices. The German DAX 30 index fell 0.5% to 5,701.78 as SAP AG declined 2.6%.

Asian Markets

Asian stock markets ended mostly higher Friday as strong U.S. economic data aided relief-buying after a string of recent losses, although trading was thin amid continued concerns about the euro-zone sovereign-crisis and ahead of the weekend. China's Shanghai Composite snapped a six-day losing streak to climb 2.0% to 2224.84 and Hong Kong's Hang Seng Index gained 1.4% to 18,285.39.

Japan's Nikkei Stock Average ended 0.3% higher at 8401.72, South Korea's Kospi added 1.2% to 1839.96 and Taiwan's Taiex climbed 0.3% to 6785.09. Shares of Chinese property developers rose amid expectations of policy easing by Beijing, with China Resources Land Ltd. up 9.1% and China Overseas Land & Investment Ltd. up 5.5%; in Shanghai, Poly Real Estate Group Co. advanced 5.3%, while China Vanke Co. climbed 3.1% in Shenzhen.

Several commodity-tied stocks also advanced in Hong Kong and Shanghai. In Hong Kong, Aluminum Corp. of China Ltd., or Chalco advanced 2.4% and Jiangxi Copper Co. jumped 4.1%; in Shanghai, Chalco rose 0.9% and Jiangxi gained 2.8%. In Seoul, Hyundai Motor Co. added 2.5% and Kia Motors Corp. gained 2.3%. Shares of Sony Corp. rose 1.1% in Tokyo, following news of brisk pre orders for the company's PlayStation Vita video-game system, and shrugging off a downgrade by Fitch to BBB minus. Olympus Corp. fell 3.6%--and is now down over 60% over the past year--on concerns the scandal-plagued firm may have to raise capital.

Commodities

Copper closed 1.9% higher on the London Metal Exchange Friday, benefiting from a firmer euro, although the rebound wasn't enough to recoup steep losses posted earlier in the week. Three-month copper ended the afternoon open outcry session at $7,345 a metric ton, up $134 on Thursday's PM kerb close. The red metal was, however, down 6% on the week. Crude-oil futures edged lower Friday, capping a week of steep declines spurred by growing worries about slowing oil demand. The decline marks the third straight downward session for benchmark U.S. crude and its lowest finish in six weeks.

Futures fell 5.9% during the week. Light, sweet crude for January delivery settled down 34 cents, or 0.4%, at $93.53 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe settled down 25 cents, or 0.2%, at $103.35 a barrel. Gold futures ended higher, shaking off recent losses but finishing the week still shy of the psychologically important $1,600-a-troy-ounce mark. Its rebound was helped by a stronger euro and upbeat news from Italy, where the government won a confidence vote on austerity measures in the lower house.

The most actively traded contract, for February delivery, settled up $20.70, or 1.3%, at $1,597.90 a troy ounce on the Comex division of the New York Mercantile Exchange. The contract had briefly traded above $1,600 early Friday but failed to decisively retake
those price levels.