Stocks closed mixed Friday as another round of solid third-quarter earnings reports was checked by rising anxiety about the path of the dollar ahead of this weekend's meeting of the Group of 20 finance ministers.

The blue-chip Dow Jones Industrial Average ($INDU) dropped 14 points to close at 11,132. American Express (AXP) and Verizon (VZ) weighed on the index after the market found fault with their respective third-quarter earnings.

The broader S&P 500 (INX) added three points, or 0.2%, to 1,183. The tech-heavy Nasdaq Composite ($COMPX) rose 20 points, or 0.8%, to finish at 2,479.

Stocks managed to pull off their third straight positive week despite Friday's malaise. The three major averages eked out gains of less than 1% on the week.



The market has rallied more than 12% since the beginning of September in part because companies continue to show sharp rebounds in profits, says Cort Gwon, director of trading strategies and research at FBN Securities.

"Third-quarter earnings season has been very, very strong," Gwon says. "About 85% of the companies have beaten analysts' estimates. And expectations were very high going into the quarter."

True, revenue gains have been far more modest, says Gwon, but the very fact of top-line growth is telling investors they need not fear a double-dip recession. For more on Gwon's view from the floor of the New York Stock Exchange (NYX), see the video above.

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ksmwtm

"Cap & Trade" dreamed up by the same 'too smart for Mainstreet too understand'--if it needs to be capped, then WHY let it be sold EXCEPT it is ANOTHER scheme for big business to keep poluting manufcturing offshore, while selling TRADES to polluting 3rd world for big profits & say--hey we are green! It is a SCHEME for BIGs to get BIGGER!

October 24 2010 at 5:05 PM Report abuse rate up rate down Reply
ksmwtm

It the USA Treasury Sect. "negotiated" with the other nations of the G20 the masterful way he did with Big Banks, there will be tax (reduction of desposiable income)on all classes--including the middle class. What is being given away to gain verbal, "We are ALL getting along just fine."?

October 24 2010 at 4:56 PM Report abuse rate up rate down Reply
piscesbaby36

When was the last time you can remember that a President of the United States attacked the United States Chamber of Commerce, whic represents hundreds of thousands of small and large businesses... and that tells you all you need to know about Obama.

October 24 2010 at 1:57 PM Report abuse +3 rate up rate down Reply
piscesbaby36

There is another article today about the ten biggest philantropists...One thing they all had ion common... none of them were poor.. You can talk all you want about "rich greedy Republicans" but the fact is that you will find successful people are the only ones who can give back.. With all of Obama's trillions of dollars in spending we are still at 10% unemployment.. The fact that there are no jobs, is testament to the anti business thread of Obama's policies.. And no matter how much you could or would give away to the poor, NO ONE WANTS TO BE POOR.. given the choice all poor people would prefer to have a job and a better future for their kids than living on Obama handouts.. And none of that will happen if you just keep attacking businesses.

October 24 2010 at 1:53 PM Report abuse +3 rate up rate down Reply
blano54

Democrats are without Evil Passions that the Republicans always have and act on, such as name calling and false assumptions. It is a privilege of the highest order of mind. Their very eminence redeems them from being affected by transient and low impulses. There is no higher rule than that over oneself, over one's impulses, there is the triumph of free will. While passion rules the character, there is no aiming at high office, the less the higher. It is the only refined way of avoiding scandals, nay, Is the shortest way back to good repute.

October 24 2010 at 1:12 PM Report abuse -1 rate up rate down Reply
Iselin007

Same drive up in prices for oil their buying big blocks of stock costing consumers at the pump with their BS. You even get nailed on energy, plastics, and motor oil ect so your getting ripped off dozens of ways when the greed meisters get excited and buy up stocks.

October 24 2010 at 10:20 AM Report abuse +1 rate up rate down Reply
Iselin007

If this is worse than the 1930's,worse other recessions since this is a Depression, and worse than the protest days of the 1960"s buddy something like riots are going to go down!

October 24 2010 at 10:15 AM Report abuse +1 rate up rate down Reply
Iselin007

Fund managers drive up the stocks with their purchases who are they fooling with this false optimistic crap.

October 24 2010 at 10:12 AM Report abuse +1 rate up rate down Reply
ssyankeeclipper

meanwhile all you bozobama lovers think of this, while the economy is in the tiolet, and communist countries are banning together for nuclear power and isreal stands alone your wonderful prez is touring the country{on your dime} living high off the hog staying at the best hotels eating at the best resturants, then a 10 vacation after the elections ..is it any wonder we are in this mess that is getting worse? ..oops forgot ya all are hypmotized or on drugs or have your blinders on..your beloved would never hurt little ol you would he? LMAO

October 24 2010 at 8:48 AM Report abuse +3 rate up rate down Reply
ssyankeeclipper

the stock market scam, i love how people look to the stock market as the economy improving..yeah, well maybe for the rich but how does this help regular everyday working taxpayers or the unemployed those on SS or even those on welfare? so unless you own stocks, own the company or are a stock broker all it does for the average american is increase food.gas,interest rates and everything else..so please dems give us something we can believe in and stop treating us like we're stupid..the stupid thing like the blame it on bush thing isn't working...in fact it po"s us more

October 24 2010 at 8:35 AM Report abuse +4 rate up rate down Reply