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Stocks Inch Higher in Quiet Trading    11/27 13:06

   Stocks finished mostly higher Friday as they wrapped up a quiet week of 

   NEW YORK (AP) -- Stocks finished mostly higher Friday as they wrapped up a 
quiet week of trading.

   The Standard & Poor's 500 index fluctuated early on, but managed to eke out 
a small gain as telecommunications and financial stocks rose. Disney dragged 
down the Dow Jones industrial average after the company said ESPN lost 3 
million subscribers in the last year. Oil prices slumped, dragging down energy 

   The Dow fell 14.90 points, or 0.1 percent, to 17,798.49. The S&P 500 picked 
up 1.24 points, or less than 0.1 percent, to 2,090.11. The Nasdaq composite 
index added 11.38 points, or 0.2 percent, to 5,127.52.

   U.S. markets were closed Thursday for the Thanksgiving holiday, and closed 
at 1 p.m. on Friday.

   Stocks didn't have much momentum in a week of light trading. The market made 
its biggest weekly gain of 2015 last week, but this week the Dow fell 0.1 
percent and the S&P 500 rose less than 0.1 percent.

   Oil prices dropped. Benchmark U.S. crude fell $1.33, or 3.1 percent, to 
$41.71 a barrel in New York. Brent crude, a benchmark for international oils, 
gave up 60 cents, or 1.3 percent, to $44.86 a barrel in London.

   The largest losers on the S&P 500 were energy stocks. Consol Energy lost 52 
cents, or 6.5 percent, to $7.48 and Southwestern Energy gave up 68 cents, or 
7.2 percent, to $8.74.

   Prudential Financial market strategist Quincy Krosby said oil prices gained 
a premium this week because of geopolitical concerns like increased military 
action against the Islamic State and growing tensions between Russia and Turkey 
after Turkey shot down a Russian fighter plane on Tuesday.

   Krosby said those gains may not last long. Next week OPEC will hold a 
meeting in Vienna, and the group could send oil prices higher by deciding to 
cut back on production. Or, it could decide to keep producing oil at its 
present rate, which might make prices fall further.

   That premium on the price of oil "can move up dramatically but also come 
down or dissipate just as quickly," Krosby said.

   Disney fell $3.54, or 3 percent, to $115.13, its biggest one-day loss since 
August. Late Wednesday, Disney disclosed that U.S. subscribers to its ESPN 
sports channel fell for the second year in a row, to 92 million as of Oct. 3, 
matching the lowest total since 2006. ESPN's subscriber totals had hovered 
around 100 million for years.

   Disney has said that ESPN has lost subscribers, but investors appeared 
shaken by the size of the losses. Small but growing numbers of people are 
opting out of traditional cable TV bundles and buying smaller, less expensive 
groups of channels instead. Investors in media companies are worried about 
potential losses of subscribers and revenue.

   A dispute over the health and mental capacity of media mogul Sumner Redstone 
hit shares of Viacom, the owner of media properties including Paramount 
Pictures, Comedy Central, MTV and Nickelodeon. In a lawsuit filed Wednesday, 
Manuela Herzer, Redstone's former companion, said the 92-year-old executive 
can't make informed decisions anymore and needs medical care at all times. 
Lawyers for Redstone, who controls the shareholder vote at Viacom as well as at 
CBS, disputed the claims.

   Viacom's Class B shares fell $1.19, or 2.3 percent, to $51.16.

   Spam maker Hormel didn't miss a beat over the holiday break, rising $1.46, 
or 2 percent, to $75.01. Earlier this week Hormel posted strong-quarterly 
results and announced a planned stock split. Its shares rose 10 percent this 

   Hewlett Packard Enterprise also continued to rise. The technology services 
company, formerly part of Hewlett-Packard, saw an increase in sales of 
data-center hardware during the fourth quarter. Its shares added 23 cents, or 
1.3 percent, to $14.35 after picking up 3 percent Wednesday.

   Retail stocks didn't move much on Black Friday, when millions of shoppers 
hit the stores in search of bargains. Target rose 28 cents to $73.44 and 
Wal-Mart Stores dipped 35 cents to $59.89. Amazon fell $2.08 to $673.26.

   In other energy trading, wholesale gasoline fell 0.6 cents to $1.391 a 
gallon. Heating oil fell 5 cents, or 3.6 percent, to $1.352 a gallon. Natural 
gas inched up 0.6 cents to $2.206 per 1,000 cubic feet.

   Gold fell $13.80, or 1.3 percent, to $1,056.20 an ounce. Silver declined 15 
cents, or 1.1 percent, to $14.008 an ounce. Copper inched up 0.5 cents to 
$2.051 a pound.

   U.S. government bond prices rose. The yield on the 10-year Treasury note 
fell to 2.22 percent from 2.24 percent late Wednesday. The euro fell to $1.0597 
from $1.0617 and dollar rose to 122.84 yen from 122.72 yen.


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