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Dow, S&P Log Best Weekly Gains Since Dec.
16 Mar 2012 EDT - CNBC.com
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Stocks finished flat in a lackluster session Friday, but the major averages posted impressive weekly gains, with the Dow and S&P logging their best gains for the week since last December.

The Dow Jones Industrial Average erased 20.14 points, or 0.15 percent, to close at 13,232.62, snapping a seven-day winning streak.

United Tech and Microsoft led the Dow laggards. Meanwhile, BofA soared, almost doubling its most recent multi-year low.

The S&P 500 eked out a gain of 1.57 points, or 0.11 percent, to end at 1,404.17. The Nasdaq slipped 1.11 points, or 0.04 percent to finish at 3,055.26. Still, the two major averages closed above their 1,400 and 3,000 milestones.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, tumbled below 15. The Vix briefly plunged to a 5-year low of 13.76 before recovering.

For the week, the Dow jumped 2.40 percent, the S&P rallied 2.43 percent, while the Nasdaq soared 2.24 percent. All Dow components logged a gain for the week, led by BofA and JPMorgan.

Nine out of the 10 key S&P sectors ended higher for the week, led by financials. Utilities sagged.

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