TSX closes down on day

The Canadian stock market ended the week with adown day that started with an optimistic surge but trailed off into a loss.

The S&P/TSXcomposite index was up about 70 points in early trading,but dropped most of the gain quickly. It then held a small gain until the early afternoon, when it drifted into negative territory, closing at12,164.56,a loss of8.79 points.

TheTSX sub-indexes were almost split evenly, with seven rising and six falling. All the moves were relatively small.

The gold price hit the third record high of the week, gaining $3.70 US to $1,275.60 an ounce, butthe gold sub-index sagged slightly, dropping 1.09 points to 397.27.

In New York, the Dow Jones average added 13.02 points to 10,607.85. The more broadly based S&P 500 index was up 0.93 points to 2,315.61.

Nasdaq, heavily weighed withtechnology stocks, gained 12.36 points to 2,315.61.

The loss Friday left thecomposite indexup 131 points on the week. It's now within 160 points of its peak of 12,321 in the past year, reached on April 27.

It'sup about 500 points in the past year, a gain of 4.3 per cent

The Dow gained about 65 points on the week. Year-over-year, it'sahead 825 points, an 8.4 per cent increase.

Nasdaqadded about 73 points this week and 190 points over a year,a gain of 8.9 per cent.

The S&P index is up 16 points on the week and 60 points, or 5.6 per cent, over a year.