U.S. stocks wiped out earlier gains to finish generally lower on Friday, pulled down as crude-oil prices turned south. But all three main indexes closed higher for a second week in a row. The Dow dropped 57 to 16,640, the S&P shed 4 to 1,948 and the Nasdaq added 8 to 4,590.
Oil prices are unlikely to significantly rebound for at least a few years, the International Energy Agency projected, as a top official with the Organization of the Petroleum Exporting Countries said he wouldn’t rule out taking additional steps to stabilize the market.
Stock picking has become so hard that some stock pickers have given up pretending to try. Pry open the hood of a mutual fund and you might be startled at what you find. In the past, you would have seen roughly 100 stocks, each painstakingly selected by a portfolio manager passionate about beating the market. Today, you increasingly are likely to find a few handfuls of exchange traded funds, those autopilot portfolios that seek to mimic the market rather than beat it.
Listen in for much more in A Wall Street Wrap-up.






