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Stocks Slip; S&P, Nasdaq Log 3rd Weekly Gains
02 Mar 2012 EST - CNBC.com
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Stocks eased off their lows but still failed to close in positive territory Friday, as gains were limited following a robust rally in recent weeks and no major news on the economic front gave investors little reason to jump in.

Still, the S&P and Nasdaq squeezed out small gains for the week.

Shortly after the market closed, Wall Street Journal reported that Citigroup's Chairman Richard Parsons will be stepping down from the board. Citigroup is expected to elect Michael O'Neill as the new Chairman, according to the report.

The Dow Jones Industrial Average slipped 2.73 points, or 0.02 percent to close at 12,977.57, led by AmEx .

The S&P 500 fell 4.47 points, or 0.33 percent, to end at 1,369.62. The Nasdaq declined 12.78 points, or 0.43 percent, to finish at 2,976.19. Meanwhile, the Russell 2000logged its lowest close since January 31.

  • Small-Cap Weakness: The Latest Stock Rally Threat
  • Both the Dow and Nasdaq hit significant milestones hit earlier this week. The Dow ended above 13,000 Tuesday for the first time since May 2008, while the Nasdaq briefly crossed the 3,000 level Wednesday for the first time since December 2000.

    The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended slightly above 17.

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