A lack of positive catalysts and a stronger dollar weighed on stocks for the entire session and helped hand the market a fractional loss for the week. An earnings miss last evening from Dell (DELL 14.29, -1.58) had already put participants in a dour mood, while weakness in overseas markets also weighed on things -- Asia's major indices slid amid reports that policymakers are talking about the possibility of imposing capital controls, while Europe's bourses moved lower following discussions of withdrawing liquidity measures from European Central Bank (ECB) President Trichet.
The U.S. dollar finished with a gain of just over 0.4%, about half of what it had sported at its session high. Its strength proved burdensome for the broader market for the entire session, though there were a few advancers.
Pharmaceuticals were able to advance 1.2%. That helped the health care sector finish with a 0.6% gain. Utilities (+0.2%) and consumer staples (+0.1%) were the only other two sectors to advance.
Energy was the worst performing sector. It fell 0.9%, due to broader market pressure and a 0.8% drop in oil prices, which took oil to $76.83 per barrel.
Gold was able to break free from the grip of a stronger dollar, however. The yellow metal had been in negative ground in the early going, but settled with a 0.6% gain at $1148.40 per ounce.
Still, general weakness among stocks gave the S&P 500 its third straight loss and a weekly decline of 0.2%, its first of the month. Stocks are up roughly 1.1% month-to-date, though.
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