Stocks Ended Higher in Short Session

Stocks rose for a fifth day during a holiday-shortened traded session on Friday as American consumers headed to retail stores to take advantage of Black Friday promotions.  The Dow Jones Industrial Average rallied 172.79 points, or 1.35%, to end at 13,009.68; for the week, it gained 3.4%. The S&P 500 index climbed 18.12 points, or 1.30%, to 1,409.15, leaving it up 3.6% for the week. The technology-heavy Nasdaq Composite advanced 40.30 points, or 1.38%, to end at 2,966.85; for the week, it rose 4%.

BP unveiled a reorganization of its oil and gas production operations on Friday, reversing a change it enacted after the Gulf of Mexico oil spill.

Protesters demanding higher wages and better healthcare for hourly workers thronged to Walmart stores across the country, though there was no evidence they disrupted operations for the start of the crucial holiday shopping season.

Volkswagen AG has earmarked 50.2 billion euros ($64.7 billion) of investments over the coming three years as it accelerates plans designed to help it become the world’s largest car maker by the end of the decade.

European Union leaders failed to reach agreement on Friday on a new seven-year budget for their troubled bloc, calling off talks in less than two days after most countries balked at far deeper spending cuts demanded by Britain and its allies.